New German Desk in Bangladesh

DEG, with its local partner Mutual Trust Bank, has opened a “German Desk – Financial Support and Solutions” in Bangladesh. The German Desk is a joint initiative between DEG, the German Chambers of Commerce and Industry (DIHK) and the German Federal Ministry for Economic Cooperation and Development (BMZ) offering attractive financing solutions to support German SMEs investing in developing and emerging countries.

As the world second-largest clothing exporter, Bangladesh offers excellent business opportunities for equipment suppliers. Significant investment in modernisation of the textile and clothing industry is currently under way. There must be no repetition of accidents of the past. Telecommunications, food processing and the energy sector are other growth sectors in this south Asian country.

However, it is not always easy for German SMEs and their local customers to access financing for small individual orders. Now the German Desk offers a simple point of contact.

With immediate effect, the desk in Dhaka is offering one-stop banking services and financing opportunities to German companies and their local commercial partners. Both German and local business communities now have access to the extensive network of Mutual Trust Bank and DEG and to tailored financing solutions for small and medium-sized export volumes. In this way, DEG and its partners also help lay the groundwork for subsequent direct investment by German SMEs.

“We particularly wanted to create a direct point of contact for German companies in Bangladesh, as there is considerable potential for German companies here, but suitable banks are poorly represented,” said Bruno Wenn at the opening celebration in Dhaka.

The “German Desk – Financial Support and Solutions” in Bangladesh is the fifth such desk worldwide. The others are in Peru, Kenya, Nigeria and Indonesia, where the new offering has been very well received.