Tk25,000cr refinance scheme for CMSMEs: Bangladesh Bank lifts investment limit
The Bangladesh Bank has lifted the investment limit in the production and service sector of the cottage, micro, small, and medium enterprises (CMSME) from the refinance scheme of Tk25,000 crore.
Under the previous guidelines, the central bank could disburse 60% term loan and 40% working capital loan to the CMSMEs under the refinance scheme.
The central bank issued a circular in this regard on Tuesday (28 March) and sent it to the managing directors of all scheduled banks.
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Banks and financial institutions can provide loans as per customers' needs by relaxing existing loan rates in production, service and business sectors, according to the central bank's instructions.
This relaxation will remain effective till 30 June 2024.
The maximum tenure of the term loan was five years and a six-month grace period after disbursement of loan.
Apart from this, the working capital loan has to be paid at the end of the 12-month period with interest.
