Tk 25,000cr fund for NRBC Bank CMSME sector
Business Report :
NRBC Bank organised a discussion meeting with cluster-based industrial entrepreneurs to raise public awareness about the Tk 25,000 crore ‘Pre-Finance Scheme’ established by Bangladesh Bank for entrepreneurs in the Cottage, Micro, Small, and Medium Enterprises (CMSME) sector. During the event, loans were openly distributed among the hosiery cluster entrepreneurs of Gaibandha.
At the event held on Friday at a hotel in Gaibandha, Bangladesh Bank’s Executive Director Dr. Md. Kabir Ahmed handed over loan checks to the entrepreneurs. Also present were Bangladesh Bank’s SME & Special Programs Department Director Mohammad Ashiqur Rahman, NRBC Bank’s Acting Managing Director Md. Rabiul Islam, Bangladesh Bank’s Additional Director Md. Mostafizur Rahman, Joint Director Rahima Khatun, NRBC Bank’s SEVP Tanushree Mitra, NRBC Bank’s Micro Credit Department Head Md. Ramzan Ali Bhuiyan, and local business association leaders.
A total of BDT 6.7 million in loan checks was distributed among 10 entrepreneurs, including Ma Hosiery, Nazma Hosiery, Joba Hosiery, Hozaifa Fashion House, Tawfiq & Junaid Cloth Store & Garments, Lincoln Hosiery, Mahi Hosiery, Maruf & Lubna Cloth Store, Najis & Nirob Hosiery, and Sumi Hosiery.
Dr. Md. Kabir Ahmed mentioned that inclusive economic trends have been established through the initiatives of the government and Bangladesh Bank. The program to bring micro-entrepreneurs from remote villages under banking services is being successfully implemented, making banking services and loan access much easier for them. Various funds have been established to support entrepreneurs. Through commercial banks, Bangladesh Bank is providing loans at low-interest rates under easy terms from various funds to new entrepreneurs, women entrepreneurs, and small entrepreneurs. The loans distributed today by NRBC Bank are also a result of Bangladesh Bank’s efforts.
He further stated that Bangladesh Bank has identified and supported 177 clusters so far. By providing training and financial support to entrepreneurs, initiatives have been taken to export their products abroad. Cluster-based industries can play an important role in diversifying export products. Like hosiery, other clusters also have large markets abroad. To ensure the proper export of Bangladeshi products to these markets, Bangladesh Bank is forming various funds and providing other supportive measures.
Md. Rabiul Islam, Acting Managing Director of NRBC Bank, stated that NRBC Bank is prioritizing cluster-based financing for the economic development of people in remote areas of the country. Microcredit programs and SME loans are being brought to the doorstep of entrepreneurs. So far, 80,000 entrepreneurs have received microloans.
From the Pre-Finance Fund of Bangladesh Bank, loans amounting to BDT 6.84 billion have been distributed among approximately 10,000 entrepreneurs. NRBC Bank is a successful implementer of all funds established by the government and Bangladesh Bank for the development of new entrepreneurs at the grassroots level and the overall economy. This activity of NRBC Bank will be further expanded and continued for rural development.
