SME Foundation disbursed Tk 3.0b to CMSME entrepreneurs so far

SME Foundation has so far disbursed credit worth Tk 3.0 billion among 3,106 entrepreneurs under the government' stimulus package, aiming to help them sustain their ventures amid the pandemic.

Entrepreneurs of the Cottage, Micro, Small and Medium Enterprises (CMSMEs) sector, especially the marginal ones and women, will get access to the fund at a 4.0 per cent interest rate.

In the first phase, the Foundation disbursed Tk 1.0 billion among entrepreneurs in the last fiscal year (FY22) through 19 banks and non-bank financial institutions, while in the second phase, it disbursed Tk 2.0 billion among 2,181 entrepreneurs from October to December 2021.

The government earlier allotted the amount to accelerate the country’s economic recovery during the Covid-19 situation and improve the living standards of the marginalised people in rural areas.

About 26 per cent of the loans disbursed by the Foundation are women entrepreneurs and about 74 per cent are male entrepreneurs.

The government announced an incentive package of Tk 15 billion in the second phase to provide easy and low-interest loans to the marginalised CMSME entrepreneurs in rural areas.

Of the amount, the government allotted a total of Tk 3.0 billion from the stimulus package for the SME Foundation for distribution after its successful disbursement from the package among Covid-hit entrepreneurs earlier.

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