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Body formed to oversee MSME lending under stimulus package

| Updated: June 06, 2020 13:08:24


Body formed to oversee MSME lending under stimulus package

The government has formed district committees to oversee loan disbursement activities in the MSMEs sector.

The loan is being provided to the entrepreneurs of micro, small and medium enterprises (MSMEs), following the prime minister's declaration on stimulus package to offset the financial losses suffered by the MSMEs due to coronavirus pandemic.

A high official of the ministry of industries (MoI) told the FE on Thursday that the committees were formed for all the districts following directives of the ministries concerned.

The deputy commissioner (DC) of a district will be the convenor of the committee while deputy general manager, manager or deputy manager of Bangladesh Small and Cottage Industries Corporation's industry support centre will be the member secretary of the committee.

Besides, officials of lead bank and other banks being involved in the loan disbursement process will be included in the committee.

Head of the district chamber, presidents of sector-wise industries, representatives of Bangladesh Bank, district women chamber (if necessary), representative of micro financing institutions will also be included in each of the district committees.

The industries ministry official further said that the committees will oversee the loan distribution process so that the deserving and bona-fide entrepreneurs in the MSMEs sector could get the loans without facing any trouble.

The committees will take measures so that the MSME entrepreneurs could get back to their normal business activities after the pandemic.

They will also coordinate loan disbursement activities of all categories of entrepreneurs in the MSME sector in the district.

The district committee will sit once in a month to discuss the progress of loan disbursement.

The committees will send monthly progress reports to the MoI.

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