DEG promotes lending to small businesses in Bangladesh: loans

    over $50 million for BRAC Bank Ltd – over 50 percent of the loans for

    women determined

    Cologne (ots) – Developing countries like Bangladesh are from the effects

    particularly affected by global crises. So have with the increase in

    Consumer prices the cost of living for the population in the country since

    Spring last year increased steadily. It is all the more important to local small and

    to strengthen medium-sized enterprises (SMEs), which create the most jobs.

    Therefore, the DEG – German investment and development company mbH

    of BRAC Bank Ltd. in Bangladesh a long-term loan of 50 million

    USD available. BRAC Bank uses these funds to support local small and

    to support medium-sized companies with loans. At least half is for

    companies run by women.

    Established in 2001, BRAC Bank provides small-scale loans and

    gives them access to banking services in Bangladesh. That concludes

    the bank a gap, because small and medium-sized businesses that are important for

    Growth and employment in the country require access to capital. The BRAC

    Bank contributes to market development in Bangladesh by providing financing

    and generates local income, for example by paying

    salaries and interest.

    Business Support Services for Gender Action Plan

    An important aspect in which DEG will support BRAC Bank is the

    promotion of women. As part of a “gender action plan” the

    Financing offers for women entrepreneurs improved and the proportion of women

    be increased at all management levels of the workforce. DEG will take care of this

    support their business support services.

    “With our financing we are supporting a successful financial institution

    its growth to make it the important target group of small and medium-sized

    company can reach even better. Our support of the BRAC Bank at the

    The issue of gender finance is a good example that we are even more targeted

    focus on further increasing the positive development effects of our customers

    increase. In this way we contribute together to greater participation by women

    economic life in Bangladesh,” commented Monika Beck, member of the

    Management of the DEG.

    Selim RF Hussain, Managing Director and CEO at BRAC Bank added: “The

    Vision of the founders of the bank, the middle class with previously lacking access to

    Achieving banking services through an inclusive banking strategy is the

    Key to BRAC Bank’s success in SME banking. The SME banking business too

    institutionalize and make it financially viable required a strong

    leadership and a customer-centric business model. The dynamic

    Corporate culture and its committed employees make the success of the BRAC

    bank off.”

    BRAC Bank is part of the global non-governmental organization BRAC

    Founded in Bangladesh in 1972 and now in ten countries in Asia and

    Africa is active. The bank itself supplies 187 branches nationwide, 456

    SME branches and 8,269 employees around 1.3 million customers

    Credit, including many women in rural areas.

    Press contact:

    Anya Strautz

    deputy press secretary

    DEG – German Investment and

    development company

    communication

    Kämmergasse 22

    50676 Cologne

    Phone: +49 221 4986 1474

    Fax: +49 221 4986 1843

    mailto:[email protected]

    http://www.deginvest.de

    Further material: http://presseportal.de/pm/6681/5409843

    OTS: DEG – German investment and development company

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