The Asian Development Bank (ADB) will provide $ 200 million in loans to small and medium enterprises (SMEs) in rural Bangladesh to help them gain access to medium and long term credit. ADB's South Asia Financial Sector Specialist, Peter Marro said the credit facility will target, in particular, firms run by women mostly engaged in subsistence trade and retail activities. The aim is to encourage cottage industries and SMEs to expand and flourish in rural areas. At least 15% of funds will be targeted to women entrepreneurs. Over 7.2 million SMEs in Bangladesh employ 70-80% of non-agricultural labour and account for over 25% of the country's GDP.