October 3, 2023

Y M L P-226

Solutions For a Small Business

BB amends Entrepreneurship Assistance Fund guideline

2 min read

Females business people can effortlessly entitle for the assist fund

The Bangladesh Lender on Sunday amended its Entrepreneurship Help Fund (ESF) suggestions for foods processing, agriculture and ICT sectors to make it less difficult for entrepreneurs.

In the amended complete guideline, the BB has incorporated a definition for women of all ages business owners for the initially time so that they can get equity support to operate their own tasks.

To enhance foods processing, agro-dependent, and details and interaction technology tasks, the govt had launched a fund named “Equity and Entrepreneurship Fund” in 2000.

In 2018, the fund’s title had been modified to “Entrepreneurship Assistance Fund (ESF),” from which a enterprise can get a minimal-expense bank loan at optimum 49% of its equity.

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As for every the BB’s amended guideline for ESF, a foods processing and agro-centered challenge, whose project expenses from Tk80 lakh to Tk5 crores, though device-dependent assignments value most of Tk12 crores, can avail loans from the funds.

Gals entrepreneurs can avail financial loans from the cash, whose undertaking price only Tk5 lakh, as per the new guideline.

If a project’s 51% share belongs to a women of all ages entrepreneur and if it is operate by a lady, the challenge will be qualified for availing bank loan from the ESF.

MFIs to get far more cash from Tk3000cr refinance scheme

Microfinance institutions (MFIs) will get a lot more cash from the Tk3,000 crores refinancing scheme to lend marginal businessmen afflicted by pandemic.

“The greatest amount of money of financing by a bank to a microfinance institution will be 30% of the regular financial loan distributed by the microfinance institutions in the past three a long time, or 5% of the complete funds of the stated refinancing plan,” in accordance to the circular issued on Sunday.

MFIs could avail loans up to 2% of the overall refinancing funds, according to the past circular.

On April 20, this year, the Bangladesh Bank unveiled the refinance plan for low-earnings professionals, marginal farmers and micro-enterprises to recover them from the really hard hit by coronavirus pandemic.