“With the seed money, the SME Foundation will implement a loan program of Tk500 crore and Bangladesh Small and Cottage Industries Corporation (BSCIC) will also operate another programme of Tk600 crore for micro and small entrepreneurs,” said an Industries Ministry press release issued yesterday. The ministry has taken the initiative considering the sufferings of the micro, small and cottage industries due to Covid-19 outbreak. To this end, the Industries Ministry sent a letter to the Finance Ministry on April 30. At the meeting, it was decided to run a special loan program through SME Foundation and BSCIC by collecting seed money on an urgent basis for all these micro and small entrepreneurs. So, the Industries Ministry sent a letter to the Finance Ministry on April 30 to allocate a total of Tk1,100 crore as seed money in favor of SME Foundation and BSCIC for the implementation of the special loan program.

Source: Dhaka Tribune May 06, 2020 12:56 UTC