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The Financial Express

BB publishes Manual of Credit Guarantee Scheme for banks

| Updated: November 04, 2020 09:36:32


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
BB publishes Manual of Credit Guarantee Scheme for banks

Bangladesh Bank on Tuesday published 'Manual of Credit Guarantee Scheme' for the banks to follow in facilitating loans for cottage, micro and small enterprises (CMS) under the government-announced economic stimulus package of Tk 200 billion (20,000 crore) for CMSME sectors, reports UNB.

Under this package, any entrepreneur of CMS category can avail a collateral-free loan between Tk 200,000 and Tk 5,000,000 as working capital under the Credit Guarantee Scheme of Bangladesh Bank.

The central bank launched the scheme on July 27 this year to facilitate the collateral loans for the country’s small scale entrepreneurs under CMS category to offset the effects of Covid-19 in their businesses.

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