Commerce and Industry Minister Khandakar Abdul Muktadir on Sunday said the government has taken a Tk 300 crore (Tk 3 billion) credit wholesaling programme to support the SME sector, which is being channelled to entrepreneurs through around 15 banks and four financial institutions.

“SMEs and MSMEs are the lifeblood of the country’s economy. A large part of Bangladesh’s economy remains informal, where the SME sector plays a crucial role,” he said while inaugurating the seven-day SME Baishakhi Fair 1433 at the Bangladesh-China Friendship Conference Centre in Agargaon.

The minister said the allocation under the credit wholesaling programme will be gradually increased to Tk 2,000 crore in the future.

He noted that strengthening the SME sector would help generate employment, diversify production and bring more people into economic activities, adding that the government will continue to play a supportive role for entrepreneurs.

Muktadir also thanked the SME Foundation and other stakeholders for organising the fair and extended greetings on the occasion of the Bangla New Year.

The SME Foundation has organised the fair on the premises of the Bangladesh-China Friendship Conference Centre, featuring more than 150 stalls showcasing products from entrepreneurs across the country.

Chairperson of the SME Foundation and Industries Secretary Md Obaidur Rahman presided over the inaugural programme, while Board Member Shamim Ahmed attended as special guest. Managing Director Anwar Hossain Chowdhury delivered the welcome address.

Organisers said the fair aims to celebrate Bangla heritage and culture while offering a vibrant and safe environment for people to enjoy the New Year festivities with family and friends.

Entrepreneurs are displaying and selling a wide range of products, including handicrafts, jute goods, apparel and fashion items, agro-processed products, heritage items, homemade foods and street foods, artificial jewellery, leather goods, and lifestyle products.

The fair will remain open to visitors every day from morning till night until April 18.