A new re-financing fund worth Tk 6.65 billion (US$ 95 million) has been formed aimed at facilitating financing small and medium enterprises (SMEs) across the country, officials said Monday.
The Bangladesh Bank (BB) will provide the re-financing facility through eligible commercial banks and financial institutions at the existing bank rate, which is now 5.0 per cent.
"We've formed the fund aiming to develop the SME sector across the country through providing re-finance facility," Sukomol Singha Chowdhury, General Manager of the SME and Special Programmes Division of Bangladesh Bank, told the FE.
He also said it's a new investment fund which will be used for project financing.
The central bank of Bangladesh will operate the fund under the 'Small and Medium sized Enterprise Development Project (SMEDP)' to accelerate the development of the SMEs, especially those in the rural and non-urban areas, by improving their access to medium and long-term credit facility.
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