BB, IFC team up for development of women SME entrepreneurs

Bangladesh Bank has signed an agreement with International Finance Corporation (IFC), a wing of the World Bank Group, for the development of women SME entrepreneurs.

IFC will provide technical assistance to develop credit guarantee scheme for women entrepreneurs under the project, "Catalysing access to finance for women SME entrepreneurs in Bangladesh”.

The proposed project is basically designed to provide technical assistance to small and medium enterprises (SMEs) and special programmes development department of the central bank to develop credit guarantee schemes, Bangladesh Bank said in a statement yesterday.

Besides, employees of the department will get training for their capacity building, according to the statement.

Programmes to create awareness on the credit guarantee schemes will also be conducted for women entrepreneurs under the project.

SK Sur Chowdhury, deputy governor of Bangladesh Bank, and Neeraj Verma, practice manager of World Bank, attended the meeting.

In the meeting, representatives from World Bank highly appreciated the upbeat growth of SME sector in Bangladesh and they expressed their interest to work together in future. 

Wendy J Werner, country director of IFC, appreciated the steps Bangladesh Bank has taken to promote vulnerable women segment and he reassured to work together for the development of women entrepreneurs.

Werner and Nawshad Mustafa, joint director of Bangladesh Bank, signed the cooperation agreement at the programme.

Mustafa will be the project coordinator, according to the statement.