The central bank of Bangladesh considered some rules of a stimulus package which are announced for covid recovery, dedicated to the cottage-micro-SME sector.
Prior, the Prime Minister had announced Tk 200 billion worth of stimulus exclusively for the CMSMEs. Of them, some 70 per cent will go for cottage, micro and small enterprises while the remaining 30 per cent for the medium sector.
8 percent loan allocated for women entrepreneurs.
The banks should sanction the loans both for working capital and term loan with subsidiary period of one year.
The government will pay 5.0 per cent of the interest and the remaining 4.0 per cent to be paid by the borrower. The repayment will be monthly and quarterly.
In another circular, BB stated that the rawhide procurement without any compromised amount was fixed August 31, 20921. It now has extended by October 31, 2021.