An SME banking fair kicked off in the port city yesterday, mainly to bridge the gap between banks and women entrepreneurs.

More women should be encouraged to become entrepreneurs to ensure sustainable development of the country, speakers said at the opening of the fair on Polo Ground.

Nineteen banks and financial institutions are participating in the five-day fair organised by Chittagong Women Chamber of Commerce and Industry.

With more than $27 billion in foreign exchange reserves now, Bangladesh will become a middle-income country by 2021 and enter the developed countries' league by 2041, Mizanur Rahman Joddar, executive director of Bangladesh Bank, said at the event. Empowerment of women is a must for sustainable development of Bangladesh, he said.

The BB has opened a special unit for women entrepreneurs and instructed scheduled banks to open such units to encourage them, Joddar said.

Some 212, 111 women entrepreneurs were given about Tk 14,254.09 crore in loans by banks and financial institutions in five years since 2010.

Kamrun Malek, president of the chamber, chaired the event where Mohammed Roshangir, deputy general manager of Bank Asia, and Abdul Jabber Chowdhury, deputy general manager of United Commercial Bank, were also present.