Dhaka, Bangladesh (BBN) – SME Foundation will ease the terms of loan and lower interest rate for the small and medium entrepreneurs (SMEs) to help them have access to credit.

“We are emphasising on ensuring an easy credit for the SMEs,” Aftab-ul-Islam, Chairman of SME Foundation said while talking to a three-member delegation of European Union (EU), headed by Jean-Claude Malongo on Thursday.

Citing the light engineering sector, Mr Islam said though the people involved in the area are innovative and courageous they fail to get funding from commercial banks due to their inability to provide collaterals.

The SME Foundation chairperson said: “We have to change our attitude toward SMEs and help them contribute to the formation of higher economic status of the country.”

The foundation was trying to arrange substantial fund from other sources to establish its divisional offices to serve the SMEs easily throughout the country.

SME Foundation will do everything possible for promoting the entrepreneurs and creating employment, he said adding that the problems that the entrepreneurs are facing would be removed soon.

The delegation mainly focused on the development of the SME sector, capacity building, business and training assistance, trade and investment, infrastructural development and women empowerment.

BBN/SI/AD-28Nov10-10:46 am (BST)