The development of SMEs (Small and Medium Sized Enterprises) in Bangladesh is the objective of INSPIRED.
It is managed by the SME Cell of the Ministry of Industries with support from the SME Foundation, Bangladesh Bank, Bangladesh Bank Training Academy (BBTA) and Bangladesh Institute of Bank Management (BIBM) and Technical Assistance provided by the EU.
The SME Cell is in charge of developing SME policy for the Bangladesh government and the monitoring of that policy. It also manages and co-ordinates INSPIRED and is mandated to do so by the Bangladesh Government for at least eight years. It is based in the Ministry of Industries and has a team of nineteen to undertake these tasks.
The SME Foundation supports the SME Cell with its strategic SME development activities and will be heavily involved in the implementation of the national SME Development Strategy to be prepared by the SME Cell.
Bangladesh Bank is the central bank of Bangladesh and responsible for the regulatory issues of all banks operating within Bangladesh. That oversight responsibility applies specifically to the SME financing within the banks and the branches of the banks that focus on SME lending. The Bank approved credit policies and procedures of the banks become a main component of the central bank’s Bank Inspection Requirements within the banks and specifically in bad debt recovery policy and procedures.
BBTA: The Bangladesh Bank Training Academy is the main division for bank training in all areas within the central bank and within the banking industry and specifically in the banks’ activities within the SME Sectors.
BIBM: The Bangladesh Institute of Bank Management is the bank training institute of the Bangladesh Bank and the member bank of the institution. BIBM’s focus is on an academic level for the banking industry.