Bangladesh Bank unveils refinancing scheme of BDT 250B for small businesses
Bangladesh Bank (BB) has announced a refinancing scheme of BDT 250 billion for cottage, micro, small and medium entrepreneurs.
Under this scheme, banks and financial institutions can disburse loans through their own branches, sub-branches, agent banking, and mobile financial services (MFS).
A BB circular in this regard was issued on Tuesday and sent to the top executives of banks and financial institutions.
The circular stated that if it is possible to create opportunities to get money on easy terms for the entrepreneurs engaged in cottage, micro, small and medium industries or CMSME sector, it will accelerate the economic growth.
The title of the scheme is ‘Refinance Scheme against Term Loan in CMSME Sector’ will be supported by funds from own sources of the central bank.
The funds will be increased if necessary. Initially, the duration of the scheme will be three years.