NRBC Bank to disburse CMSME loan

NRBC Bank Ltd and SME Foundation have joined hands to help the cottage, micro, small and medium enterprises to recover from the pandemic impact.

An agreement was signed between the two organizations on September 16, said a press release on Monday.

Under the agreement, NRBC Bank Ltd will provide loans to entrepreneurs of the cottage, micro, small and medium enterprises (CMSME) at subsidized rate of 4 per cent under the government's second phase of stimulus package.

The stimulus package has been initiated to help small businesses recover from the impact of the Covid-19 pandemic.

Customers will get loan amount ranging from Tk 1 lakh to Tk 50 lakh. Bank will disburse the loans to customers from the fund of Tk 200 crore formulated by SME Foundation. Women entrepreneurs will get this loan as priority basis, it said.

Planning Minister MA Mannan, State Minister for Industries Kamal Ahmed Mojumder, State Minister for ICT Zunaid Ahmed Palak, SME Foundation Chairman Dr. Masudur Rahman, SME Foundation Managing Director Dr. Mafizur Rahman, high officials of different banks and NBFIs were present.

Managing Director and CEO of NRBC Bank Golam Awlia spoke at the signing ceremony and signed the agreement on behalf of the bank.