Database for SMEs launched
Author / Source : Staff Reporter
Dhaka, Nov 23: The International Finance Corporation (IFC), a member of the World Bank Group, and Bangladesh Bank on Wednesday launched a resource database to ensure more business opportunities for small and medium financial institutions. The database will provide quarterly reports with up to date information on SMEs lending activities, including information on region, sector, loan type, ownership format and locations of the enterprises. Through the database reports financial institutions will be able to streamline appraisal and prioritisation of SMEs and more efficiently identify lending potential by region, and perform mapping and design of lending products based on sector requirements, IFC officials said.
The financial institutions can also determine financial viability of SMEs through benchmarking against the sector and develop market strategies and underline funding requirements for each market segment, they added.
The database will include and supply information from 64 districts and collect information on cottage, micro, small and medium scale enterprises as defined by the Bangladesh Bank (BB).
The project was initiated by the South Asia Enterprise Development Facility (SEDF), and managed by IFC in partnership with the UK Deparment for International Development (DFID) and the Norwegian Agency for Development Cooperation (NORAD).