Bangladesh Bank on Wednesday asked the scheduled banks to disburse SME loans to persons with disabilities at 10 per cent interest under the central bank’s refinance fund.
To this end, the BB issued a circular to the managing directors and chief executive officers of all the banks saying that the persons with disabilities, including those visually impaired, would get loans between Tk 10,000 and Tk 5 lakh from the scheduled banks under the refinance scheme of the BB.
The loans, which will be disbursed to persons with
disabilities, will be considered as loans under the small enterprise sector, the circular said.
The banks will get the fund at five per cent interest rate from the BB while the banks could disburse it to persons with disabilities at a highest 10 per cent interest rate, it said.
The central bank will provide 100 per cent refinance facility to the banks against their loan disbursement to the persons with disabilities if available fund remained in the BB refinance scheme.
The banks will have to follow government and the BB policies while choosing eligible persons to disburse the loans, the circular said.
BB general manger Sukumal Sinha Chowdhury told New Age on Wednesday that the central bank had issued the circular with a view to bringing the persons with disabilities, including those who are visually impaired, under the SME financing.
A significant number of new entrepreneurs will come to the fore due to this new BB initiative, he said.
The volume of the fund is Tk 600 crore.
-With New Age input