The SME Foundation is set to disburse Tk 3.0 billion loan to pandemic-hit micro, small and medium enterprises (CMSMEs) at 4.0 per cent interest rate to offset loss of Covid-19 crisis.
Under the government's second phase stimulus package to accelerate the country's economic recovery and improve the living standards of marginalised people in rural areas, the SMEF will provide Tk 1.0 billion loan in the current fiscal year 2020-21 and other Tk 2.0 billion from the next fiscal year 2021-22.
To this effect, the foundation has already taken initiatives to disburse loans through agreements with the country’s 11 banks and non-bank financial institutions.
The banks and financial institutions (FIs) 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.
Of the total loan, some 25-30 per cent will be distributed among the women entrepreneurs.
On March 21, 2021, the foundation approved the policy and guidelines for disbursement of this loan programme in the 120th meeting of the Board of Directors, chaired by SME Foundation chairperson Dr Md. Masudur Rahman.
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