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MRA, IFC sign deal to digitise microcredit, boost housing loans
The Microcredit Regulatory Authority (MRA) and International Finance Corporation (IFC) signed a deal for digital transformation in microcredit and enhanced housing loan facilities.
Under the program IFC will finance to enhance the capacity of microfinance institutions and the Microcredit Regulatory Authority (MRA) providing short- and medium-term housing loans and digital financial services (DFS) in Bangladesh’s microfinance sector.
The MRA and the IFC have signed a project agreement worth approximately US $3.5 lakh, held at MRA headquarters in the capital on Wednesday.
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Prof Mohammad Helal Uddin, Executive Vice Chairman of MRA, and Mehdi Cherkaoui, South Asia Manager (FIG Upstream and Advisory) of IFC, signed the project document titled “Bangladesh Microfinance Sector Development (BMSD)”.
Md Saeed Kutub, additional secretary, graced the event as the guest of honour, while Prof Mohammad Helal Uddin presided over the ceremony attended by senior officials from the Ministry of Finance, Bangladesh Bank, CEOs and representatives of microfinance institutions, and officials from both IFC and MRA, reports UNB.