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The Financial Express

Banks asked to provide loans to small businesses sincerely, at low interest

| Updated: October 29, 2020 09:42:09


Banks asked to provide loans to small businesses sincerely, at low interest

Prime Minister Sheikh Hasina on Wednesday asked the private banks to be more sincere in providing loans at low interest to small business enterprises to offset the Covid-19 fallout.

"In our incentive packages, we've taken measures to extend financial assistance to various small businessmen by providing them with loans at low interest. But I think our private banks need to be a little more sincere in this regard," she said while addressing a function virtually from her official residence Ganobhaban.

Some 35 commercial banks under Bangladesh Association of Banks (BAB) provided 25,95,000 blankets to the Prime Minister's Relief and Welfare Fund to help the poor during the upcoming winter.

On behalf of the Prime Minister, Principal Secretary Dr Ahmad Kaikaus received the donations from top representatives of the banks at the Prime Minister's Office.

The Prime Minister said though the beginning may be a little difficult for the banks due to cost hike, the banks will ultimately be benefited when the small enterprises are revived, reports UNB.

Expressing apprehension over the second wave of Covid-19, the PM said the Covid-19 situation has largely been brought under control in Bangladesh, but the resurgence in Covid infection is seen in many countries including European ones.

In this context, she stressed the need for taking cautionary measures in Bangladesh. "We need to be aware from now on. We are already taking appropriate measures in this regard and urging everyone to be a little aware about this. Protect yourselves and also others."

She said all should be conscious so that the second wave of Covid-I9 will not leave adverse impacts on the country's economy and hamper the livelihood of people.

Sheikh Hasina said the government is setting up 100 economic zones across the country and there is scope to make massive investment there.

Noting that the country's reserve of foreign currency is $40 billion, she said the government has a target to increase the reserve to $50 billion during the golden jubilee of the country's independence.

The Prime Minister said she always wants Bangladesh to stand on its own two feet, be self-reliant, not to lend to anyone and to move in the world arena with dignity.

She said the government has taken a plan to carry out some development works with own finance not borrowing from the external sources rather from the local banks.

"We can do many development works ourselves without borrowing from others. Or, we can do these with loans from our local banks.... We've also taken measures to do at least some works with our own finance. You will know the details very soon," she said.

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