Home ›› 04 Jan 2022 ›› Front
The Bangladesh Bank has formed Tk500 crore refinance funds to support people who migrated back to their villages due to the ongoing economic hardship.
The central bank issued a notice in this regard on Monday saying that the refinance scheme has been formed to generate employment and to eliminate poverty for the people who have returned home due to pandemic.
The people who migrated to village will be able to get funds at six per cent interest rate from the scheme. Banks will get funds from the scheme at 0.5 per cent interest rate, as per the BB’s guidelines on the refinance scheme, as per the circular.
The borrowers who will avail maximum Tk2 lakh loan from the fund will be allowed to repay the loans by 24 months including three months grace period. On the other hand, the borrowers who will avail up to TK5 lakh loans from the fund will be allowed to repay those by 36 months including six month grace period. Clients will not need to provide any collateral.
The tenure of the refinance scheme will end on October 30, 2024. The central bank selected eight sectors to provide the loans: local small businesses; purchasing small and medium vehicles for transport sector; light engineering; fisheries and livestock; setting up service centres for information technology; cultivation of vegetables and fruits; purchase of agriculture equipment and building and repairing houses.
On July 15, last year, the central bank declared Tk 1,000 crore stimulus packages to give a cushion to the owners of hotels, motels and theme parks bearing the brunt of business slowdown amid the coronavirus pandemic.
The owners of residential hotels and theme parks will be able to get fund from the scheme at 4 per cent interest rate.
Banks, however, will enjoy 8 per cent interest rate as the government will give 4 per cent subsidy to them.
The repayment tenure of the fund is maximum one year. The owners of hotels and theme parks will get loans in the form of working capital, according to the central bank notice.
