The Economic Cooperation Organisation (ECO) Trade and Development Bank has signed a  medium term loan agreement with Orix Leasing for the amount of USD 10 million with a tenor of 4 years and a grace period of 1 year. The total amount of the loans issued by the Bank for the SMEs in Pakistan has reached USD 40 million including USD 10 million of Orix Leasing.

 

ETDB strongly believes that SMEs have a vital role to play as engines of economic growth in the ECO region. This facility would encourage Orix Leasing as an intermediary to expand and strengthen its financing of SME operations in Pakistan in line with the Bank’s mandate to become a driving force in the economic development of ECO member states.

 

SME Development Loan can be utilized for the purpose of Export Financing and Import Financing ( Import Financing is limited to Economic Cooperation Organization Member States) and Working Capital needs of the small and medium sized companies.

 

Orix Leasing Pakistan Limited is a subsidiary of ORIX Corporation, Japan's leading integrated financial services company, spread over 26 countries including Pakistan providing leasing and other financial services to various segments of the market with a niche in the SMEs segment.