The SME Foundation of Bangladesh and the BRAC Bank have joined hands to provide easy-term loans to entrepreneurs in SME cluster.
As per reports, this move is aimed at helping small businesses recover from the impact of the COVID-19 pandemic while adding after successfully implementing the two phases of COVID-19 stimulus package, SME Foundation has formed a revolving loan facility amounting to Taka 300 crore with the fund from the Government’s stimulus package channelled through the foundation.
Out of the total revolving fund, BRAC Bank alone will avail Taka 80 crore, which will be disbursed to the entrepreneurs at various SME clusters and other areas of Bangladesh at a subsidised rate of 4 per cent.
The SME Foundation and BRAC Bank had signed an agreement to this effect in capital Dhaka recently.
