Women entrepreneurs to get Tk25 lakh collateral-free loan

New women entrepreneurs are going to get Tk1,657 crore as SME loans this year

Bangladesh Bank has directed banks to provide Tk25 lakh loan to a woman entrepreneur without any collateral.

The new entrepreneurs will also get collateral-free Tk10 lakh loans.

Bangladesh Bank issued a circular on Sunday to ease the process of the SME loans to the women and new entrepreneurs.

SME loans will be disbursed on the basis of bank-client relations and types of products and services.

Bangladesh Bank data showed that the local banks and financial institutions are going to disburse Tk23,500 crore loans to create new entrepreneurs to promote sustainable development of the country.

The figure is 20% higher than that of the previous year and most of the loans will be given to small and medium enterprises in rural areas.

Bangladesh Bank has made it compulsory for banks and financial institutions to disburse SME and agricultural credit at low interest rates.

New women entrepreneurs are going to get Tk1,657 crore as SME loans this year.

In 2016, the banks and financial institutions fixed the target of disbursing SME loans at Tk1,13,503 crore. But they were able to achieve more than the target. They were able to disburse Tk1,41,935 crore.

This year the new entrepreneurs will get Tk21,794 crore as SME loans. Last year the amount was Tk18,128 crore.

Source: dhakatribune