Agreement Signing Ceremony at the SME Foundation's Credit Wholesaling Programme

IPDC Finance is delighted to announce its participation in the agreement signing ceremony at the SME Foundation's credit wholesaling programme for the third phase of revolving fund loan disbursement. Cottage, Micro, Small, and Medium Enterprises (CMSME) entrepreneurs will receive an additional 450 crores in loans through the banks and financial institutions onboard during this ceremony, with IPDC Finance as a proud participant.

In response to the challenges posed by the COVID-19 pandemic, this initiative is part of the Honorable Prime Minister's stimulus package and the SME Foundation's own revolving fund, disbursing 450 crores in low-cost funds to support CMSMEs of Bangladesh. IPDC Finance has been selected to administer these loans at a 6% interest rate, with no collateral required for loans up to 10 lakhs. The disbursement strategy ensures a minimum of 30% for female entrepreneurs and 10% to entrepreneurs within CMSME clusters. The provide loans will up to 25 lakhs to entrepreneurs, with a maximum of 50 lakhs for the purchase of capital machinery. The agreement includes 19 banks and 4 financial institutions, encouraging them to offer collateral-free loans primarily targeting the manufacturing and service sectors. 

The event was honored by the presence of special guests, including Ms. Zakia Sultana, Senior Secretary, Ministry of Industry; Md. Abdur Rahman Khan FCMA, Secretary, Financial Institution Department, Ministry of Finance, and Md Masudur Rahman, Chairperson, SME Foundation. Mr. Rizwan Dawood Shams, Managing Director of IPDC Finance, also graced the occasion along with Mr. Mohammad Mahmudur Rahman Shawon, Head of SME at IPDC Finance, and other distinguished members of the organizations. Other managing directors from banks and financial institutions, as well as representatives from the SME Foundation, were also present.

This agreement signing ceremony marks a significant milestone for both IPDC Finance and the SME Foundation, contributing to the advancement of the CMSME sector in Bangladesh. By providing accessible financing solutions, we aim to empower entrepreneurs, drive economic growth, and support sustainable business practices.