MoU executed with NRBC Bank for development of youth as entrepreneurs: PM
Prime Minister Sheikh Hasina said that an MoU has been signed with NRBC Bank to develop youth as entrepreneurs.
"Trained youth are getting an opportunity to become entrepreneurs by taking loans from NRBC Bank without any collateral in partnership with Department of Youth Development. This venture is undertaken to eliminate unemployment and create new entrepreneurs," she said at the 'Sheikh Hasina Youth Volunteer Award-2022' ceremony held the capital on Sunday (11 September).
Honorable PM Sheikh Hasina virtually connected to this programme as chief guest from her official residence Ganabhaban, reads a press release.
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"From here, our trained youth can become entrepreneurs with Tk5 lakh to Tk10 lakh loan as startup capital. A special allocation has been kept for this programme in the budget," the premier said.
The prime minister also said that the youth are being given loans from the Karmasangsthan Bank without any guarantee so that they can become entrepreneurs and create employment for others.
NRBC Bank is providing loans to trained youth on easy terms and condition under an agreement with Department of Youth Development. Through this initiative more youth will be able to avail loan facilities up to Tk10 lakh from 4% to maximum 9% interest for creating self-employment and employment for others. To become entrepreneurs, priority will be given to women, third gender and people with special needs.
Besides, NRBC Bank is disbursing loans to the entrepreneurs under the CMSME sector at only 7% interest. Recently, NRBC Bank and Bangladesh Bank signed an agreement in the presence of Bangladesh Bank Governor Abdur Rouf Talukder to provide this loan from the central bank's refinancing fund of Tk25,000 crore.
NRBC Bank has already given loans to 25,000 entrepreneurs who availed loan facilities of Tk4,600 crores. Tk175 crore loans were disbursed under the first and second incentive package to entrepreneurs of the CMSME sector for the coronavirus crisis. 500 entrepreneurs availed this low interest loan facility.
In addition, NRBC Bank has introduced micro credit facilities for the marginalised people at rural level. With the aim of creating employment at home, Tk1,500 crore loan has already been distributed among 36,000 entrepreneurs.
