Home ›› 08 May 2020 ›› World Biz
Bangladesh Bank has increased the size of refinancing schemes in three sectors of Small & Medium Enterprises or SME.
A circular was issued by the SME and Special Program Department of the central bank on Friday in this regard.
This refinancing is aimed at reviving the cottage, micro, small and medium enterprise (CMSME) sector, which has been severely affected by the Corona virus.
The circular said, Refinancing Scheme in Small Enterprise Sector, "Refinancing Scheme for Establishment of district-based Industries for Processing of Agricultural Products and New Entrepreneur Refinancing Fund have been increased to Tk. 1,500 crore, Tk. 1,400 crore and Tk. 100 crore respectively.
Under the three funds, interest rates have been redefined at 3pc at the bank or financial institution level and a maximum of 6pc at customer level.
Safiqul Islam, Managing Director of the SME Foundation, told The Business Post that it was a timely decision by the central Bank as small entrepreneurs have suffered the most due to corona-fallout.
