Bangladesh Bank, the central bank of Bangladesh, has recently unveiled a Taka 25,000 crore refinance scheme for cottage, micro, small and medium enterprises (CMSMEs) in the country.
This is to help CMSMEs increase their access to finances, claimed reports.
A central bank notice in this direction, reportedly, maintained borrowers in the CMSME sector will get funds in the form of term loans, whose tenure is more than one year, from the scheme even if the tenure of the fund, which is revolving in nature, is three years.
Under the new scheme, banks and non-bank financial institutions (NBFIs) will receive funds at 2 per cent from the Bangladesh Bank, while CMSME borrowers — the CMSME sector is considered the backbone of Bangladesh’s economy even if latest data from the Bangladesh Bureau of Statistics indicate there are 78 lakh CMSME units across the country — will get loans at a maximum interest rate of 7 per cent.
