United Commercial Bank PLC (UCB) and SME Foundation have formalized a pivotal partnership aimed at bolstering credit access for CMSME (Cottage, Micro, Small, and Medium Enterprises) customers through a Credit Wholesaling Programme.
Recently the agreement was formalized at a city hotel in Dhaka, marking a significant step towards providing low-cost credit support to SMEs across Bangladesh, says a press release.
M Salahuddin Mahmud, Acting Managing Director of SME Foundation, and Md Shah Alam Bhuiyan, Deputy Managing Director of UCB, exchanged the agreement documents on behalf of their respective organizations.
The event was attended by Zakia Sultana, Senior Secretary of the Ministry of Industry, Abdur Rahman Khan FCMA, Secretary of the Financial Institutions Division, Prof Dr Md Masudur Rahman, Chairman of SME Foundation, and Md. Mohsinur Rahman, Senior Vice President and Head of SME at UCB, among others from both entities.
The collaboration aims to streamline financing opportunities for CMSMEs, facilitating their growth and sustainability in competitive market landscape. This initiative underscores UCBs commitment to supporting grassroots economy while aligning with SME Foundations mission to empower small enterprises across the nation.
