Dhaka, Bangladesh (BBN)- The central bank of Bangladesh is going to launch a re-financing scheme worth BDT 2.0 billion to provide loans to BDT 10 account holders, officials said.
A proposal was approved at a meeting of the board of directors held on Tuesday with Bangladesh Bank (BB) Governor Atiur Rahman in the chair, officials said.
Under the scheme, the BB will provide the fund to the commercial banks and non-governmental organisations (NGOs) at 5.0 percent interest rate.
The banks are allowed to disburse the collateral-free loan to the BDT 10 account holders at maximum 12 percent interest while the non-government organisations (NGOs) will charge up to 20 percent interest.
“The BB wants to ensure inclusive economic growth through activating BDT 10 accounts across the country,” a BB senior official told BBN in Dhaka.
He also said the the central bank will issue a circular in this connection shortly.
As of December last year, the number of BDT 10 account holders – who are mostly farmers, garment workers, city corporation cleaning workers, freedom fighters and social safety net beneficiaries – stood at around 13.80 million.
BBN/SSR/AD-22Apr14-11:51 pm (BST)