Cox’s Bazar, Bangladesh (BBN)– Bangladesh Bank (BB) has unveiled, for the first time, a small and medium enterprise (SME) credit policy and programs targeted at achieving inclusive economic growth.
BB Governor Atiur Rahman announced the policy at a discussion with chief executive officers and managing directors of the commercial banks held at Seagul Hotel in Cox’s Bazar on Thursday night with BB Deputy Governor Murshid Kuli Khan in the chair.
The new policy has focused on encouraging more women entrepreneurs in business and investment across the country.
“All banks will have to come forward to provide loans to district level borrowers and women must get priority,” the central bank chief said while releasing the policy.
Under the programmers, banks and non-banking financial institutions (NBFIs) will disburse around BDT 240 billion to more than 60 SME sectors such as light engineering, handicraft, flower, fish processing, handloom, rice-mill, bio-gas and compost fertilizer during the ongoing calendar year.
The central bank will set up a three-tier monitoring system to ensure growth of the SME sector in the South Asian country.
Under the monitoring system, the BB headquarters, its nine branch offices across the country and head offices of all commercial banks will review the implementation of SME credit programs regularly.
BBN/SS/SI/AD-26March10-6:28 pm (BST)
