BRAC Bank will partner with DEG Impulse, Germany, to establish the first-ever SME Innovation Lab in the Bangladesh banking sector.
The bank will establish the innovation lab with the support of DEG Impulse gGmbH, a 100 % subsidiary of the German development finance institution DEG, within the framework of the develop programme.
DEG Impulse promotes the social and ecological transition of the private sector in developing and emerging-market countries and supports development policy goals as defined by the Sustainable Development Goals.
DEG Impulse implements the develoPPP programme on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), the German government agency responsible for international development policy and cooperation.
The SME incubator is dedicated exclusively to fostering innovation among Cottage, Micro, Small, and Medium Enterprises (CMSMEs).
This initiative addresses critical challenges CMSMEs face in Bangladesh, focusing on women-led enterprises and vulnerable business segments.
The Lab is designed to develop sustainable solutions that can be adopted and replicated across various areas, including Bridging the Gender Gap in Financing, Inclusion of Cottage and Micro Enterprises, Promoting Smart Agriculture and Climate Resilient Financing.
