The New Nation - Internet Edition

Business leaders of Chittagong Sunday urged the country's commercial banks to finance small and medium enterprises (SMEs) to ensure the economic development of the country.

Addressing a seminar titled "SME Support in Bangladesh" arranged by Chittagong Chamber of Commerce and Industry (CCCI), the speakers said as the country's SMEs have a good prospect with the growing GDP, these industries need policy support from the government along with a firm commitment.

Dr Firoz Faruki, who presented the keynote paper at the seminar, identified 22 impediments to the development of SMEs in the country, said a press release issued by CCCI.

These include commercial banks' general perception of risk in lending money to SMEs and higher administrative cost in lending.Chaired by senior vice president of CCCI MA Salam, the seminar was addressed among others, by CCCI vice president SM Shafiul Huq, former president of Small Shoe Owners Association Md Rafiqul Islam, president of Chittagong Fruit, Vegetable and Allied Products Exporters Association Mahbub Rana, professor of Institute of Forestry of Chittagong University Dr Md Mohiuddin, Professor of IUB Dr Tahlil Azim and deputy director of Board of Investment Sirajul Islam.

The seminar was arranged under an initiative undertaken by CCCI, Dhaka Chamber of Commerce and Industry (DCCI), German-based SEQUA and Belgium-based DEBELUX to promote SMEs.