The SME Foundation is set to disburse another Tk400 crore loan to small and medium entrepreneurs (SMEs) at 4% interest rate.
In this regard, the foundation inked agreements with 18 banks and non-bank financial institutions on Wednesday.
According to the SME Foundation, entrepreneurs can take loans from Tk1lakh up to Tk30 lakh from this package, said the SME Foundation.
Under the financial incentive package for accelerating the economic recovery of the country and improving the quality of life of marginalized people in rural areas in the post-pandemic situation, Tk300 crore was released in two phases previously.
The foundation has already distributed that amount at the entrepreneurial level.
The SME Foundation has also formed a revolving fund with the repaid money and its own funds as per the advice of the Finance Department.
This money will be distributed as loans among the SME entrepreneurs, clusters, client groups, association and chamber members and women-entrepreneurs.
The SME Foundation has already prepared policy guidelines for the management of the revolving fund under their credit wholesaling program.
To disburse the loan, the SME Foundation has signed an agreement with 18 banks and financial institutions in the presence of chief executives of partner 15 banks and 3 financial institutions on Wednesday.
The partners banks and NBFIs are Basic Bank, Bangladesh Krishi Bank, BRAC Bank, Bank Asia, Bengal Commercial Bank, Dhaka Bank, Mercantile Bank, Mutual Trust Bank, NRB Commercial Bank, One Bank, The Premier Bank, Shimanto Bank, Shahjalal Islami Bank, United Commercial Bank, The City Bank, IDLC Finance, IPDC Finance and Lankabangla Finance.
In the agreement signing ceremony, Industries Minister Nurul Majid Mahmud Humayun was present as the chief guest while Sheikh Mohammad Salim Ullah, secretary of Financial Institutions Division was special guest.
Dr Md Masudur Rahman, chairperson of the SME Foundation, chaired the event and Dr Md Mafizur Rahman, managing director of the SME Foundation, gave the welcome speech.
SME Foundation General Manager Nazim Hasan Sattar explained the details of loan disbursement policies, incentive package, and the revolving fund implemented by the foundation.
According to the policy guidelines, micro and small entrepreneurs of the rural and marginal level, women entrepreneurs, indigenous groups, third gender, and differently abled entrepreneurs will get priority in getting loans.