Entrepreneurs should be treated as partners, not borrowers: Finance minister
Addressing bank officials, he said borrowers should receive support beyond loans, including assistance with product quality, skills, design, branding and marketing.
Employment Bank should build relationships with entrepreneurs alongside providing financing and treat them as partners rather than borrowers, Finance Minister Amir Khosru Mahmud Chowdhury said.
"Financing is not enough. You must have a bond with the person you are financing. You have to support them. He is a partner, not a borrower," he said.
The minister made the remarks as the chief guest at an event organised by Employment Bank at the Osmani Memorial Auditorium in Dhaka today (7 September) to launch the Small Business Microfinance and Micro Enterprise Fund (SBMMEF).
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Addressing bank officials, he said borrowers should receive support beyond loans, including assistance with product quality, skills, design, branding and marketing.
Amir Khosru said many educated, semi-educated and poor people possess considerable creativity but cannot utilise their talents due to a lack of funds. Some also remain outside the formal banking system or are reluctant to approach banks, making it important to take financing to them, he said.
The Tk50 crore SBMMEF is a pilot initiative aimed at creating employment by bringing marginalised and disadvantaged people into the financial system, the minister said.
Highlighting the potential of the rural economy, he said families engaged in traditional trades such as weaving, brass work and pottery could significantly increase the value of their products through skills training, modern designs, quality raw materials, branding and marketing.
"A Tk100 product can be turned into a Tk200-300 product through value addition," he said.
Employment Bank Managing Director Arun Kumar Chowdhury said the bank aims to create employment for 9,00,000 unemployed people over the next five years, in line with the government's target of creating one crore jobs.
He said SBMMEF loans would carry a 6% interest rate, with women entrepreneurs receiving 50% priority in loan disbursement. The project will initially be implemented in Kurigram, Sherpur and Barguna.
Employment Bank board chairman AFM Matiur Rahman chaired the event.
