BRAC Bank and iDE, a USAID development partner, are to create opportunities for SMEs to deepen their financial literacy, and improve their understanding of digital business and financial management systems, expediting their readiness to apply for loans. This came as BRAC Bank and iDE signed a joint-venture agreement on capacity building of the entrepreneurs of light engineering and Agri machinery sectors.
iDE will also work on customized screening, credit scoring tools, and people development for BRAC Bank. The partnership will also involve arranging workshops on financial capacity development for MSMEs and dealers, loan application requests and loan disbursement. This one-year project will cover different areas of Bogura, Jashore and Cox’s Bazar regions. Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank; and Deepak Dhoj Khadka, Vice President–Asia, iDE CSISA-MEA; signed the agreement at iDE Bangladesh Office in Dhaka on May 29, 2022.
Nazrul Islam, Head of Small Business, West; Alomgir Hossain, Head of Small Business, East; Tapos Kumar Roy, Head of Microfinance & Agriculture Finance; SM Saiful Islam, Head of Agriculture Finance; Ariful Islam, Head of Underwriting; Shamsuzzaman, Senior Manager - Credit & Portfolio Analysis; and Forhad Ahmed, Project Manager; were present from BRAC Bank; and Saroja Thapa, Associate Director –Program; Elizabeth Lahiff, Team Leader; Md. Zaheedul Islam Chowdhury, Project Manager; Ahmed Shihab Zamtan, Intervention Manager; and Senior Technical Specialist - Access to Finance Ms. Tanzila Tajreen from iDE were also present.
BRAC Bank and iDE to develop capacity of SMEs involved in light engineering and agri machinery
