The government has started a move to include the small and medium enterprises, which have been left out of the benefit of the government's Covid-19 stimulus for the CMSME sector, in a database to help them get necessary loans under the package.
In this regard, the Bangladesh Small and Cottage Industries Corporation (BSCIC) asked the district-level CMSME (cottage, micro, small and medium enterprise) loan disbursement and monitoring committee to start creating a database of the left-out firms and to recommend the qualified enterprises to banks for getting access to loans.
These committees were formed on June 1 last year in all districts by an order of the industries ministry with the approval of the cabinet division.
In each district, deputy commissioner will lead the committee, while BSCIC district manager will work as a member secretary.
As the key agency for SME sector development, BSCIC sent a letter to the district committees on Thursday detailing the instructions for the committee.
BSCIC Public Relations Officer Md Abdul Barik said this was the first time the agency had sent instructions since the district committees were formed last year.
The respective committee will follow the instructions so that CMSMEs get necessary loans to overcome the Covid-19 fallout, he said.
The letter asked the committee to create a database of firms sustaining businesses during the Covid-19 and to prepare a list of firms that are interested to take loans under the stimulus packages.
The committee will also recommend the firms that are qualified for obtaining bank loans.
It will also seek written explanations from banks if any bank does not want to provide loans to any firm.
As per the BSCIC letter, the disbursement and monitoring committee will find ways to help CMSMEs, which are denied by banks, get access to loans.
The district-level committees were also asked to set up help desks for CMSMEs.
In January, the Bangladesh Bank selected lead banks for every district in order to speed up the disbursement of loans among CMSMEs.
A lead bank is supposed to play a major role in giving out loans to CMSMEs, according to a notice issued by the central bank on January 24.
The lead bank will assist all banks and non-bank financial institutions in a district, ensuring that the small businesses avail their desired loans.
Banks have so far disbursed around Tk 130 billion out of the Tk 200 billion CMSME package, according to the central bank.
The whole package will have to be distributed within March, added the central bank.
