The Asian Development Bank (ADB) is extending a loan of $100 million, equivalent to nearly Tk 12.17 billion, to develop and promote Bangladesh’s small and medium enterprises (SME) sector. The deal was signed on Thursday in Dhaka under the second phase of the 2nd Small and Medium Enterprise Development Project. Hoe Yun Jeong, ADB’s country director for Bangladesh, signed for the lender, according to a media statement issued by ERD. A separate project agreement was also signed between ADB and Bangladesh Bank. The earlier phase of the project also benefited underserved entrepreneurs in rural and semi-urban areas outside the two major cities.
