, Oct. 9 -- The Asian Development Bank (ADB) and Bangladesh on Thursday signed a $100 million agreement to help cottage, micro, small, and medium-sized enterprises (CMSMEs) outside Dhaka and Chattogram metropolitan areas, gain access to medium and long-term credit.

Economic Relations Division (ERD) Secretary Md. Shahriar Kader Siddiky and ADB Country Director Hoe Yun Jeong signed the agreement on behalf of Bangladesh and ADB respectively at a ceremony at the ERD offices in Dhaka.

The Second Small and Medium-Sized Enterprises Development Project (Phase 2) aims to create at least 15,000 jobs by 2030, said a press release.

It will spur economic growth and poverty reduction through the development of the CMSMEs in rural areas, as they have...