Bangladesh Bank has further extended the timeline to allocate the fund for the cottage, micro, small and medium enterprise (CMSME) under the incentive package as banks and financial institutions failed to make significant headway.
According to the new timeframe, banks and Non-Bank Financial Institutions (NBFIs) will get time until June 30, reports BSS citing a circular issued on Monday.
Earlier, the deadline was March 31.
The financial institutions failed to implement loan disbursement by March 31 under the Taka 20,000 crore stimulus package for the CMSME sector.
At the end of March, banks and financial institutions disbursed 72.31 percent of the total package.
Meanwhile, the central bank has also extended the special loan rescheduling facility for the Leather Industrial City of Savar until June 30 this year.
By the deadline, defaulters can receive the facility by paying down payment, according to a circular.
The central bank has allowed the facility for the second wave of COVID-19 pandemic.