BRAC Bank, SME Foundation to finance cricket bat manufacturing clusters

BRAC Bank and SME Foundation have partnered to provide collateral-free SME loans to the entrepreneurs at the cricket bat manufacturing cluster in Pirojpur and Jashore.

This partnership perfectly fits in with the bank’s core vision and passion as the bank is the industry leader in SME financing and a partner of the national cricket team.

BRAC Bank and SME Foundation signed an agreement to provide loan facilities to boost the making of cricket bats, stumps and sports accessories.

Under the agreement, BRAC Bank will get receive a Tk. 3 crore loan from SME Foundation in this 2nd phase. BRAC Bank will finance the cricket bat manufacturing cluster at Baladia, Swarupkathi in Pirojpur and at Narandrapur cluster in Jashore.

Selim RF Hussain, managing director and CEO, BRAC Bank, and Md. Safiqul Islam, managing director, SME Foundation, signed the agreement on 29 October. Syed Abdul Momen, head of BRAC Bank’s SME banking, and Md. Nazeem Hasan Satter, general manager, SME Foundation exchanged the agreements. Al-Amin, general secretary, Baladia cricket bat cluster, were also present at the signing ceremony.