DHAKA, April 27, 2020 (BSS) – Bangladesh Bank (BB) has created a Taka 10,000 crore revolving refinance scheme to provide working capital for the cottage, micro, small and medium enterprises (CMSME) sector to overcome the negative impacts due to COVID-19 pandemic.
The scheme has been formed under the Taka 20,000 crore stimulus package, announced by the government for CMSME sector to deal with the possible economic shock from the ongoing shutdown enforced for curbing the spread of COVID-19, as per a BB circular issued on Sunday.
The interest rate of this lending facility will be 4 percent and the tenure of the scheme is three years.
Earlier, the government announced a set of stimulus packages with an allocation of Taka 72,750 crore. Of the allocation, Taka 20,000 crore will be provided to the CMSME sector as working capital.