The Financial Express

Women to get 25pc of Tk 30b refinance fund

| Updated: June 13, 2021 11:35:22

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The central bank has asked all scheduled banks to disburse among women at least 25 per cent of the Tk 30 billion refinancing fund for facilitating low-income people.

"It has been decided that out of this fund 25 per cent is to be disbursed in favour of the female borrowers in both segments (micro-credit and micro-enterprise credit), according to a notification issued by the Bangladesh Bank on Wednesday.

Earlier on April 20 last calendar year, the Bangladesh Bank (BB) unveiled a revolving refinance scheme of Tk 30 billion for underprivileged farmers, professionals and micro enterprises to help offset the adverse impact of the Covid-19 on their businesses.

Under the scheme, the BB will initially provide the fund to banks at 1.0 per cent interest, which they will lend to microfinance institutes (MFIs) at 3.5 per cent interest.

The MFIs will be allowed to charge a maximum of 9.0 per cent interest to borrowers.

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