The banks which have failed to meet the target of disbursement within the stipulated time have been asked to prepare a monthly plan to ensure it by 31 March 2021
The Bangladesh Bank has extended till 31 March 2021 the deadline for disbursement of the rest of Tk20,000 crore incentive loans among the cottage, mirco, small and medium enterprise (CMSME) entrepreneurs.
The stimulus package was declared to recoup the losses incurred by the CMSMEs in the wake of Covid-19.
The SME Foundation has expressed its gratitude to the central bank for the extension of incentive loan disbursement period.
According to the Department of SME and Special Programmes, Bangladesh Bank, this opportunity will only apply to the banks and financial institutions that have failed to meet the target of disbursement of stimulus package, said a press release issued on Tuesday.
It further said the deadline for implementation of the loan disbursement target of Tk20,000 crore for CMSME entrepreneurs affected by the coronavirus outbreak was set till 31 December 2020.
The banks which have failed to meet the target of disbursement within the stipulated time have been asked to prepare a monthly plan to ensure it by 31 March 2021 and send it to the concerned department of the central bank by 16 January 2021.
According to the central bank, only Tk10,500 crore out of Tk20,000 crore has been disbursed by the banks and financial institutions till 16 December 2020.
In this context, the SME Foundation is earnestly requesting the banks and financial institutions to play a more sincere and effective role in disbursing the remaining fund among the entrepreneurs of the CMSME sector by 31 March 2021, a new time frame set by the central bank to offset the loss due to Covid-19.