The SME Foundation has decided to provide Tk 300 crore loan to micro, small and medium entrepreneurs for improving the living standards of marginalised people in rural areas during the Covid-19 pandemic from the government’s second phase stimulus package, said a press release on Tuesday.
SME Foundation's assistant general manager Morshed Alam said a total of Tk 300 crore will be disbursed in this fiscal year and rest of the Tk200 crore will distributed in the next fiscal year.
The foundation signed an agreement with 11 banks and non-banking financial institutions to distribute the loan. Those banks and non-banking financial institutions include BRAC Bank, Premier Bank, Mutual Trust Bank, Bank Asia, South East Bank, Dhaka Bank, Prime Bank, Basic Bank, IDLC Finance and Lanka Bangla Finance.
According to the agreement, the foundation will provide loan to those who did not receive any incentives from the government announced first stimulus package. Of the Tk 300 crore, 25 to 30 per cent loan will be earmarked for female entrepreneurs.
The press the release stated that a policy has been passed in the 120th meeting of the Board of Directors of the SME Foundation on March 21 this year.
According to the decision, entrepreneurs can take loan Tk 1 lakh to Tk 75 lakh at 4 per cent interest rate.
