33pc SME Foundation loans went to women entrepreneurs

Staff Correspondent

14 July, 2021 12:00 AM printer

33 percent of Tk 1billion loans that SME Foundation disbursed from the government’s Covid-19 stimulus package have gone to women entrepreneurs.

SMEF Managing Director Dr Md Mofizur Rahaman informed this as he exchanged views online with the representatives of Banks and financial institutions on stimulus package loan disbursement on Tuesday.  

During 2020-2021 fiscal year, SME Foundation distributed a total of Tk 1.16 billion loans bearing 4 percent interest rate among 1,069 entrepreneurs of 54 districts through 13 banks and financial institutions.

The SMEF Managing Director thanked the banks and non-bank FIs, especially Brac Bank and IDLC for accomplishing the job in less than two months.

He also urged them to get prepared for disbursing Tk 2 billion more loans from the stimulus package among the SMEs by December this year.

In an effort to intensify Covid-19 recovery as well as improving livelihoods of rural marginal people under the second set of Stimulus package, SME Foundation received Tk 3 billion.

Of the money, Tk1 billion was disbursed last fiscal year and the rest of Tk 2 billion. Most importantly, this time rural and marginal CMSME entrepreneurs who did not received any support from the first set of package will get loans, according to SME Foundation.

Besides, SME sub-sector and trade body-listed entrepreneurs recommended by women entrepreneurs, private organizations and associations

SME Foundation thinks that close contact and direct monitoring and assistance of banks and FIs, it was possible to disburse Tk 1.16 billion in place of Tk 1 billion loan in a very short time.  Dr Mofizur Rahman hoped that the assistance will continue this fiscal year as well so that  Tk 2 billion can also be distributed ahead of their scheduled time.

Moderated by SMEF general manager Md Nazim Hassan Sattar, officials of 24 banks and financial institutions joined the online view-exchange meeting.