BB floats new refinance scheme Sunday to help small businesses
Star Business Report
Bangladesh Bank introduces a special refinance programme on Sunday for banks and financial institutions to promote small enterprises, which do not have access to bank loans and are also out of any kind of microcredit operations.The central bank has taken the Tk 100 crore initiative targeting the deprived group called "missing-middle". Small businesses having fixed assets worth not more than Tk one crore will be eligible for receiving loans under the scheme. Bangladesh Bank will provide 100 percent refinance facility at 5 percent bank rate to the banks and financial institutions (FIs) for financing the businesses with amounts ranging from Tk 2 lakh to Tk 50 lakh. The lenders will charge interests at their existing rates. Banks and FIs whose classified loans are not more than 10 percent of their small (up to Tk 50 lakh) loan portfolio, will enjoy the refinancing facility.
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