United Commercial Bank (UCB) PLC has partnered with the SME Foundation to make financing more accessible for businesses in the cottage, micro, small and medium enterprises (CMSME) sector. Under the participation agreement, signed as part of the Credit Wholesaling Programme, CMSME entrepreneurs will be able to access loans at a competitive interest rate of 8%. The agreement was formally exchanged at a ceremony held at Hotel InterContinental Dhaka, where Managing Director of the SME Foundation Anwar Hossain Chowdhury and Managing Director and CEO of UCB PLC Mohammad Mamdudur Rashid represented their respective organisations. The event was attended by Industries Minister Khandaker Abdul Muktadir as chief guest. Among the special guests were Secretary of the Ministry of Industries and Chairman of the SME Foundation Md Obaidur Rahman, and Deputy Governor of Bangladesh Bank Nurun Nahar.
Senior officials from both organisations, including Head of Distribution and Strategy at UCB Mohammad Ridwanul Haque and Chief Communication Officer Zeeshan Kingshuk Haq, were also present.
Speakers said the initiative would allow CMSME entrepreneurs to access loans at an 8% interest rate under simplified terms, making it easier for small businesses to grow and expand.
