Eminent business leaders of Chittagong in Bangladesh recently urged the country’s major commercial banks to provide credit to small and medium enterprises (SMEs) in the country. While addressing a seminar on ‘SME Support in Bangladesh’, industry representatives said that SMEs in the country have bright prospects. However, they felt that there is a need to extend policy support to promote these small scale industries.
The seminar was organised by the Chittagong Chamber of Commerce and Industry (CCCI). It was an initiative undertaken by the Dhaka Chamber of Commerce and Industry (DCCI), German-based SEQUA and Belgium-based DEBELUX with a view to promote Bangladeshi SMEs.
During the seminar, speakers also identified some of the major impediments on the road to development for SMEs. Reluctance of commercial banks to lend money to SMEs owing to the general perception of risk in lending money to this segment and higher administrative costs were pointed out as some of the factors that impede the SME sector’s growth.
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