** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

BB launches Tk 100cr fund for cottage, micro, small entrepreneurs

28 June 2014

BSS, Dhaka :
Fresh entrepreneurs in country's cottage, micro and small sector will now have easy access to soft loan for their businesses, thanks to Bangladesh Bank for launching a new refinancing fund for the sector.
Bangladesh Bank (BB) has launched the Tk 100 crore "refinancing fund for new entrepreneurs in Cottage, Micro and Small sector", said a BB circular issued today.
Women entrepreneurs, innovative and creative entrepreneurs, ICT sector, import alternative initiatives, export-oriented initiatives and educated related initiatives of entrepreneurs educated with technical education will get priority for loans from this fund.
Banks and non-bank financial institutions (NBFIs) will get the fund to provide loans to new entrepreneurs of cottage, micro and small sector. They will have to sign participation agreements with the SME and Special Programmes Department of the central bank if they are interested to introduce the new refinance facility in their banks.
Funding support under the refinance scheme will be available for working capital, mid-term and long-term investment and the tenure will be one year, three years and five years.
The interest will be 10 per cent (bank rate +5%) and banks and financial institutions which will have agreement with the central bank for disbursement of loans will give borrowers minimum 3 months and maximum 6 months grace period.
According to the central bank, an individual entrepreneur will get maximum Tk 10 lakh loan without any collateral and any entrepreneurs will get Tk 25 lakh with collateral.
Fresh entrepreneurs who are trained under different government and non- government entrepreneurship development programmes, including SME Foundation, Department of Youth Development, Bangladesh Women Chamber of Commerce and Industry, Dhaka Chamber of Commerce and Industry will be eligible for the loan from this fund.

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