DHAKA, April 20, 2020 (BSS) – Bangladesh Bank (BB) has announced a Taka 3,000 crore refinancing fund for low-income group of people including farmers and small-business owners to overcome their economic crisis in the wake of COVID-19 pandemic.
The central bank has created the fund for smooth functioning of livelihood related activities of low income group of people, a BB circular issued today said. As per the circular, the tenure of the scheme will be for three years.
The scheduled banks will pay 1 percent interest to the central bank for the loan and they will get 3.5 percent interest from the micro credit organizations. But the client level interest rate on the loan has been fixed up to 9 percent.