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Easing Pandemic Shocks

BB focuses on stimulus loans disbursement for CMSMEs

  • Anisul Islam Noor
  • 19 September, 2021 12:00 AM
  • Print news
BB focuses on stimulus loans disbursement for CMSMEs

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Bangladesh Bank has emphasised implementation of stimulus package loans phase-2 to help cottage, micro, small and medium enterprises (CMSMEs) recover from the pandemic shocks.

As part of the goals, the banks already disbursed Tk3 billion during July-August in the current fiscal year, the central bank’s latest data showed.

Bangladesh Bank has been implementing stimulus package phase-2 of Tk200 billion for the fiscal year 2021-22 to the CMSME sector through 57 banks and some other financial institutions.

“The central bank is now giving priority to reach the stimulus package loan disbursement targets for the CMSMEs so the sector is able to recover from the pandemic losses early,” Md. Serajul Islam, Bangladesh Bank’s spokesperson, told the daily sun on Saturday.

The field-level inspection and monitoring has been enhanced after the withdrawal of lockdown restrictions to ensure that the loans are being disbursed at the expected pace, he added.  

To achieve the goals, the central bank also specified allocation targets for different banks. 

In the phase-2, Bangladesh Bank has given allocation of Tk 27.70 billion to the state-own banks (SOBs) for disbursement among the CMSMEs.

The SOBs have performed well and disbursed the highest amounts to the CMSMEs in phase-1 stimulus loans.

Bangladesh Bank has given a large allocation of stimulus package loans to the SOBs considering the number of branches and capable manpower, officials said.

The SOBs will disburse Tk 27.70 billion in the FY2021-22. Among the SOBs, Agrani Bank Limited has been given the highest disbursement target of Tk 8.90 billion, followed by Janata Bank Tk8 billion, Sonali Bank Tk5 billion, Rupali Bank Tk3 billion, BASIC Bank Tk2.5 billion and BDBL Tk 0.30 billion.

The state-owned specialised banks have been given the stimulus loan disbursement target of Tk 2.60 billion.

Among them, Bangladesh Krishi Bank has been a target of Tk 2 billion, Rajshahi Krishi Unnayan Bank Tk 0.50 billion and Probashi Kollayan Bank Tk0.10 billion.

The foreign commercial banks operating in Bangladesh have been given a total target of Tk 1.95 billion.

Of them, Bank Al-Falah got a target of Tk0.10 billion, Commercial Bank of Ceylon Tk 0.30 billion, Habib Bank Tk0.02 billion, Standard Chartered Bangladesh Tk 1 billion, SBI Bangladesh Tk 0.20 billion, Citibank NA Tk0.05 billion, NBP Tk0.05 billion, HSBC Tk0.20 billion and Uri Bank Tk0.03 billion.

The country’s private commercial banks have been given allocation of stimulus package loans in two categories.

Of them, Shariah-based banks got a target of Tk 59.25 billion and the general banks got Tk 101.95 billion.

Islami Bank Bangladesh Limited got the highest allocation of Tk 22.50 billion, followed by BRAC Bank Tk 14 billion, UCBL Tk 11 billion, Exim Bank Tk9 billion, Al Arafah Bank Tk 7.50 billion, Southeast Bank Tk 7.50 billion, Shahjalal Islami Bank Tk 6 billion, Premier Bank Tk 6 billion, Social Islami Bank Tk 5.50 billion, Pubali Bank Tk 5 billion, National Bank Tk 4.50 billion and Eastern Bank Tk 4 billion.