NRBC Bank will provide loans to small and medium-sized enterprises (SMEs) at an interest rate of just 6 per cent. Entrepreneurs can avail loans ranging from Tk 1 to 25 lakh under easy terms.
However, for purchasing capital machinery for the industry, loans up to a maximum of Tk 50 lakh can be taken. These loans will be distributed from the “Revolving Fund” of the SME Foundation under the stimulus package announced by the Prime Minister Sheikh Hasina to overcome the damages caused by the corona virus pandemic, according to a press release.
To facilitate this, NRBC Bank signed an agreement with the SME Foundation at a hotel in Dhaka on Tuesday. NRBC Bank Managing Director (Current Charge) Md Rabiul Islam and the SME Foundation Chairperson Professor Md Masudur Rahman signed the agreement on behalf of their respective organisations.
The event was attended by Ministry of Industries Senior Secretary Zakia Sultana; Financial Institutions Division Secretary Md Abdur Rahman Khan; SME Foundation Managing Director (Additional Charge) Salahuddin Mahmud; and NRBC Bank Head of CRMD-2 (SME) Muhammad Hajjaj- Bin- Mahfooz, among others.
NRBC Bank will provide loans in various sectors and sub-sectors of the SME industry, including value chains, information technology sectors, and the production of exportable and import-substitute products.
Priority will be given to new entrepreneurs, women entrepreneurs, the third gender, residents of backward regions, and trained youths from various associations and institutions. The loan tenure will be a maximum of four years, and loans up to Tk 10 lakh will be distributed without any collateral. This loan will be distributed through all branches and sub-branches of NRBC Bank.
