Islamic Development Bank Approves USD 47 Million Financing Facility to Support Bangladesh’s SMEs

The Islamic Development Bank (IsDB) has approved USD 47 million (approximately BDT 3.98 billion) credit line to support Bangladesh’s small and medium enterprises (SMEs) that have been hard hit by the pandemic, according to local media reports.

The instalment sale financing will be used as a line of finance to support the SMEs in need. The financing facility, which will be extended to the country’s Ministry of Finance as sovereign financing and implemented by Bangladesh Bank (BB), will directly add to the stimulus packages launched by the Government of Bangladesh to assist SMEs.

According to an official, as reported in local media, Dr Bandar M H Hajjar, President of IsDB, had recently approved the fund.

Meanwhile, Husne Ara Shikha, General Manage...