IDCOL stresses affordable credit, skills for CMSME growth

IDCOL and SME Foundation hosted a discussion, "Unlocking CMSME Potential: Bridging the Gaps," focused on challenges faced by Bangladesh's cottage, micro, small, and medium enterprises (CMSMEs).

In his welcome remarks, IDCOL CEO Alamgir Morshed emphasised the sector's critical role in the economy. "CMSMEs contribute 25 per cent of GDP and employ over 34 million people, yet they face a financing gap of more than USD 73 billion (about Tk 9 lakh crore)," he said. "They are the backbone of our economy, crucial for resilience and job creation. IDCOL, with two decades of experience in sustainable infrastructure, renewable energy, and inclusive finance, is committed to ensuring CMSMEs gain access to affordable credit, capacity building, and stronger market linkages."

The discussion brought together a diverse range of stakeholders, including entrepreneurs, banks, NBFIs, MFIs, PKSF, the Bangladesh Bank, the SME Foundation, the Ministry of Industries, the Microcredit Regulatory Authority, BSCIC, and development partners. Participants shared their perspectives on financing constraints, regulatory gaps, skills development, and market access. Together, they identified collaborative solutions for sustainable growth.

S M Monirul Islam, Deputy CEO of IDCOL, concluded the session by thanking stakeholders for their engagement and reaffirming IDCOL's commitment to supporting inclusive and sustainable enterprise financing for CMSMEs.