Economic Reporter :
The ‘Credit Wholesaling Programme’ of the SME Foundation is getting momentum with significant rise in its credit recipients, according to SME Foundation official.
“The collateral-free loan under the programme has become more affordable for borrowers as it is being provided at 9.0 percent rate of interest to help promote further the country’s small and medium enterprises,” Managing Director of the SME Foundation M Shofiqul Islam told.
He said the lending programme has so far created direct employment opportunities for around 5,000 people along with the generating another 10,000 indirect jobs.
Islam suggested that more communities should be associated with the activities of the SMEs in a bid to ensure industrial development and creating more employment opportunities.
The SME Foundation Managing Director also informed, till October 31, 2017, the Foundation following its agreements with 11 bank and non-bank financial institutions, have allocated around Tk 101.25 crore against some 19 clusters or cliental groups.
He said the number of SME Foundation credit recipients till October of this year reached 1,263 of which some 813 are male entrepreneurs while the rest of 450 are female entrepreneurs.
He said collateral free loan of maximum Tk 10 lakh and minimum Tk 50,000 is being provided to the SME entrepreneurs under this programme with highest nine percent interest rate while this loan could be repaid in five years with easy installments.
Putting emphasis on the extension of the credit facilities of the Foundation, he said, “Allocations should be increased in this sector in favour of more industrial entrepreneurs. We’ve already applied to the Bangladesh Bank in this regard and we’re hopeful of getting another Taka 50 crore fund,”
The SME Foundation top boss said that his organization has been working relentlessly to ensure overall development of around one crore people, who are closely associated with the country’s one million SMEs, in line with the government’s 7th Five Year Plan (7FYP), Vision-2021, National Industrial Policy 2016 and five specific goals (1,4,5,8 and 9) of the Sustainable Development Goals (SDGs).
The ‘Credit Wholesaling Programme’ of the SME Foundation is getting momentum with significant rise in its credit recipients, according to SME Foundation official.
“The collateral-free loan under the programme has become more affordable for borrowers as it is being provided at 9.0 percent rate of interest to help promote further the country’s small and medium enterprises,” Managing Director of the SME Foundation M Shofiqul Islam told.
He said the lending programme has so far created direct employment opportunities for around 5,000 people along with the generating another 10,000 indirect jobs.
Islam suggested that more communities should be associated with the activities of the SMEs in a bid to ensure industrial development and creating more employment opportunities.
The SME Foundation Managing Director also informed, till October 31, 2017, the Foundation following its agreements with 11 bank and non-bank financial institutions, have allocated around Tk 101.25 crore against some 19 clusters or cliental groups.
He said the number of SME Foundation credit recipients till October of this year reached 1,263 of which some 813 are male entrepreneurs while the rest of 450 are female entrepreneurs.
He said collateral free loan of maximum Tk 10 lakh and minimum Tk 50,000 is being provided to the SME entrepreneurs under this programme with highest nine percent interest rate while this loan could be repaid in five years with easy installments.
Putting emphasis on the extension of the credit facilities of the Foundation, he said, “Allocations should be increased in this sector in favour of more industrial entrepreneurs. We’ve already applied to the Bangladesh Bank in this regard and we’re hopeful of getting another Taka 50 crore fund,”
The SME Foundation top boss said that his organization has been working relentlessly to ensure overall development of around one crore people, who are closely associated with the country’s one million SMEs, in line with the government’s 7th Five Year Plan (7FYP), Vision-2021, National Industrial Policy 2016 and five specific goals (1,4,5,8 and 9) of the Sustainable Development Goals (SDGs).
