DHAKA, April 27, 2021 (BSS) – SME Foundation will provide Taka 300 crore as loans to the entrepreneurs of cottage, micro, small, medium enterprises (CMSME) at 4 percent interest rate under the 2nd phase stimulus package of the government to recoup their losses from the COVID-19 pandemic and also to improve the livelihood of the marginal people in the rural areas.
Out of this amount, Taka 100 crore loan will be distributed in the current fiscal year (FY21) while another Taka 200 crore in the next fiscal year (FY22) through some 11 Bank and non-bank financial institutions.
Agreements to this end with the banks and non-Bank financial institutions have already been signed.
These 11 Bank and non-bank financial institutions are Brac Bank, Premier Bank, Mutual Trust Bank, Bank Asia, Southeast Bank, Dhaka Bank, Dutch Bangla Bank, Prime Bank, BASIC Bank, IDLC Finance and Lankabangla Finance.
These banks and non-bank financial institutions will provide loans to the selected entrepreneurs of various clusters across the country, SME sub sectors recommended by the SME Foundation, various public and private organizations and associations, listed entrepreneurs of the business organizations and those rural and marginal entrepreneurs who could not avail the first phase stimulus package of the government for the CMSME sector. Female entrepreneurs will get around 25 to 30 percent of the total loans.
Officials said the SME Foundation has initiated a move to sign agreements with Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank and some other bank and financial institutions to bring the rural entrepreneurs under the coverage of this loan facility.
The SME Foundation approved its credit programme policy and guidelines last month.
Fresh and female entrepreneurs as well as lagging behind, physically disables and transgender entrepreneurs will also get priority in getting loans.