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