Business Report :
IDLC Finance PLC announced the signing of new collaboration agreement with the International Finance Corporation (IFC) to accelerate growth in Bangladesh’s SME and supply chain financing sector.
Building on the successful partnership established in 2014, which focused on empowering women entrepreneurs, development of scorecard-based lending model & loan origination system, and expansion into affordable housing market, this renewed collaboration will undertake a comprehensive 360° assessment of the SME market.
The assessment will provide crucial insights and strategic recommendations, supporting IDLC Finance’s efforts to develop innovative financing solutions tailored to the sector’s needs.
Speaking at the signing ceremony held on September 18, 2024, at the IDLC Finance Head Office Syed Javed Noor, additional managing director of IDLC Finance PLC, remarked: “Our partnership with IFC has been a driving force behind our growth in key areas like affordable housing and women’s entrepreneurship. This renewed collaboration signals the beginning of another exciting chapter, allowing us to delve deeper into the SME sector and continue offering impactful financial solutions.”
IFC’s Director for FIG Asia & Pacific Allen Forlemu recognized and appreciated IDLC’s effort towards women empowerment and green financing.
The new partnership with IFC underscores IDLC Finance’s ongoing commitment to fostering sustainable business growth and supporting Bangladesh’s economic development.
The collaboration will enable IDLC Finance to expand its footprint in SME financing while strengthening its supply chain financing capabilities.
Participants included Adnan Rashid, head of SME, IDLC Finance PLC; Syed Javed Noor, additional managing director, IDLC Finance PLC; Allen Forlemu, director, FIG Asia & Pacific, IFC; Mehdi Cherkaoui, manager, FIG Upstream and Advisory – South Asia, IFC; Wilfried Tamegnon, manager, FIG – Bangladesh, Nepal & Sri Lanka, IFC.