SME Foundation is going to provide Tk 200 crore to 18 financial institutions to be disbursed as loans among small and medium entrepreneurs to help them overcome Covid shocks.
The government-run foundation signed an agreement to this end with the banks and NBFIs at Parjatan Building Auditorium in the capital’s Agargaon on Thursday.
The banks will be providing loans of Tk 1-50 lakh to the entrepreneurs at an interest rate of 4 per cent. Besides, loans of Tk 25 lakh or below can be availed without collateral.
The financial institutions are BRAC Bank, Bank Asia, Basic Bank, City Bank, Mutual Trust Bank, Dhaka Bank, NRB Commercial Bank, Premier Bank, Social Islami Bank, One Bank, Prime Bank, Karmasangsthan Bank, United Commercial Bank, Eastern Bank, Southeast Bank, Rajshahi Krishi Unnayan Bank, IPDC Finance, IDLC finance and Lankabangla Finance.
Industries Minister Nurul Majid Mahmud Humayun was chief guest at the signing event. State Minister for Industry Kamal Ahmed Majumder, State Minister of ICT Division Zunaid Ahmed Palak and Secretary of Ministry of Industries Zakia Sultana were present at the event as special guests.
Thanking the officials of the financial institutions, managing director of SME Foundation Dr Mofizur Rahman wished the institutions will be able to distribute the loans by December this year, preferably to the Covid-affected rural and women entrepreneurs.
Planning Minister MA Mannan said, “Successful distribution of this incentive package will minimize the Covid shock for these entrepreneurs and make SME sector stronger.”
Zunaid Ahmed Palak said “The government is helping the youth in the country to run businesses successfully. There should be a partnership between SME Foundation and ICT division to train young entrepreneurs to run sustainable businesses.”
