NCC Bank, SME Foundation sign financing agreement

NCC Bank has signed two significant financing agreements with SME Foundation aimed at expanding access to finance for Cottage, Micro, Small, and Medium Enterprises (CMSMEs) in Bangladesh.

According to a press release, the agreements cover the Credit Wholesaling Program under the Government’s Revolving Fund and a participation agreement under the Food Value Chain Improvement Project (FVCIP).

The agreements were signed at a ceremony held in Dhaka, attended by Khandaker Abdul Muktadir, Minister for Industries, Commerce, Textiles and Jute as the Chief Guest. Special Guests included Nurun Nahar, Deputy Governor of Bangladesh Bank, and Nasreen Fatema Awal, President of Women Entrepreneurs Association of Bangladesh. The event was chaired by Md. Obaidur Rahman, Secretary of the Ministry of Industries and Chairperson of SME Foundation. The agreements were formally signed by M. Shamsul Arefin, Managing Director of NCC Bank, and Anwar Hossain Chowdhury, Managing Director of SME Foundation.

Under the Government’s Revolving Fund, established with a corpus of BDT 300 crore, SME Foundation has been implementing the Credit Wholesaling Program to accelerate SME sector development and improve access to finance for priority entrepreneur groups. Through this initiative, NCC Bank will disburse the allocated funds as loans to eligible CMSME entrepreneurs across the country.

In addition, under the FVCIP—funded by Japan International Cooperation Agency (JICA)—NCC Bank has joined as a Participating Financial Institution (PFI). The project is designed to enhance financial access, strengthen business capacity, and ensure food safety standards in Bangladesh’s agribusiness and food processing sectors. Under this arrangement, SME Foundation has approved an on-lending credit limit for NCC Bank, which will be utilised to provide financing to eligible CMSME entrepreneurs in accordance with the prescribed guidelines.

These agreements are expected to open new avenues of financing for small and medium entrepreneurs, foster job creation, and promote sustainable growth in key economic sectors. The distinguished guests at the event expressed optimism that such initiatives will significantly enhance financial inclusion and contribute to the overall economic development of Bangladesh.