BB extends deadline for execution of stimulus package for CMSMEs

January 03, 2021 16:46:49

| Updated:

January 03, 2021 20:21:19

The central bank has extended the deadline for execution of the stimulus package for the cottage, micro, small and medium enterprises (CMSMEs) by more three months.

Under the revised deadline, scheduled banks and non-banking financial institutions (NBFIs) are now allowed to implement the package for the sector by March 31, 2021 instead of December 31, 2020, according to a notification, issued by the Bangladesh Bank (BB), on Sunday.

The BB’s latest moves came against the backdrop of slower progress in loan disbursement under the package for the CMSMEs until December 26. The banks and NBFIs disbursed Tk 96 billion of the stimulus package by then. 

The disbursed amount is 48 per cent of the total Tk 200 billion financial support for the sector. Loans amounting to Tk 115.20 billion were approved for 73600 Covid-19 affected CMSMEs across the country during the period, the BB’s data showed.

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