Staff Correspondent: Bangladesh Bank has reduced interest rates on loans for women entrepreneurs. Banks and financial institutions will be able to take money from Bangladesh Bank at 0.5% interest only to give loans to women entrepreneurs and the customers have to pay that money @ 5% interest. This facility has been introduced under Bangladesh Bank's 'Small Enterprise Refinancing Scheme'.

Bangladesh Bank has set a target of giving at least 15% of SME loans to women entrepreneurs by 2024. The interest rate of this scheme has been reduced from time to time. On Wednesday (August 4), the day the bank closed, a new notification was issued to reduce the interest rate of the scheme.

According to a central bank notification, the bank has set a target of distributing 15% of SME sector loans to women entrepreneurs. Similarly, women entrepreneurs are given refinancing facility on priority basis under small enterprise refinancing scheme. Subsequently, due to the Corona epidemic, interest rates were rescheduled @ 3% at the bank or financial institution level and a maximum of 6 per cent at the consumer level to facilitate the disbursement of loans to women entrepreneurs. Today it has been rescheduled. Under the new guidelines, the interest rate for refinancing under this scheme has been fixed at 0.5% at the bank and financial institution level and maximum 5% at the customer level.

Bankers say that women entrepreneurs are not getting low interest loans due to lack of necessary documents. And entrepreneurs say bankers are not interested in lending to women entrepreneurs. Due to this, bank loans are not reaching the desired level among women entrepreneurs.

Sun News / FAR