BSCIC to distribute Tk 50cr stimulus loan to CMSMEs

Bangladesh Small and Cottage Industries Corporation (BSCIC) under the Ministry of Industries will distribute Taka 50 crore as stimulus loan among the entrepreneurs of Cottage, Micro, Small and Medium Enterprise (CMSME), being affected by the COVID-19 pandemic.

The BSCIC on Sunday directed its all regional and district offices to distribute Taka 50 crore stimulus loan among the CMSMEs by June 30.

BSCIC Chairman Mostaque Hassan said that an entrepreneur would be able to get Taka 10 lakh as collateral free loan and highest Taka 20 lakh as loan. Around 10 percent of this stimulus package will be distributed among the female entrepreneurs.

Out of the Taka 100 crore stimulus package allocated for BSCIC, the Corporation has so far received Taka 50 crore while this fund should have to be distributed by June 30.

The highest interest rate of this stimulus loan would be 4 percent at client level and it would have to be repaid in 18 equal installments in 2 years having a grace period of six months.