SME stimulus loan disbursement deadline extended till June

Bangladesh Bank on Monday extended the deadline for CMSME loan disbursements under its Tk20,000 crore stimulus package by three months until the end of June.

The BB in a circular said as 72 percent of the fund is disbursed until now, the banks and financial institutions are given more time.

The banking regulator instructed the respective banks and non-bank financial institutions to fulfil the loan disbursement target within the new timeline.

On April 13 last year, Bangladesh Bank announced the stimulus package in order to help the cottage, micro, small and medium enterprises tackle the economic fallout caused by the Covid-19 pandemic.

Under the package, the working capital is given at a 9-percent interest rate. Of the interest rate, 4 percent is borne by the borrowers while the rest 5 percent by the government.