Tk 300 crore loan assistance for CMSME entrepreneurs

Sunbd Desk || Published: 2021-04-27 14:07:38 || Updated: 2021-04-27 14:07:38

The government has announced a second round of incentive package to accelerate the country’s economic recovery in the face of the ongoing epidemic and improve the living standards of the marginalized people in rural areas. Under the announced package, the SME Foundation will provide loans of Tk 300 crore to micro, small and medium enterprises (CMSMEs). Of this, Tk 100 crore will be distributed in the current financial year and Tk 200 crore in the next financial year.

This was stated in a press release sent by the SME Foundation on Tuesday (April 27).

The SME Foundation has already taken steps to disburse loans through agreements with 11 banks and non-bank financial institutions. Banks and financial institutions are Branc Bank, Premier Bank, Mutual Trust Bank, Bank Asia, Southeast Bank, Dhaka Bank, Dutch-Bangla Bank, Prime Bank, Basic Bank, IDLC Finance and Lankabangla Finance.

According to the press release, as per the terms of the agreement, these banks and financial institutions will provide loans to rural and marginal entrepreneurs who have not availed loans under the first phase incentive package announced by the government for the CMSME sector. The target is to distribute 25-30 percent of the total loan to women entrepreneurs.

Sunbd/NJ

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