Bangladesh Bank announces Tk 30b lending scheme for low-income groups

Bangladesh Bank has announced a Tk 30 billion refinancing fund for low-income professionals, farmers and small-business owners affected by the coronavirus shutdown.

The interest rate on the loans has been capped at 9 percent, according to a notice announced by the central bank on Monday. 

“The government is taking various initiatives to tackle the economic downturn caused by the coronavirus pandemic. The fund is part of those initiatives. It includes assistance for low-income people,” Kazi Sayedur Rahman, executive director at Bangladesh Bank, told bdnews24.com.

The three-year loans aim to ensure inclusive economic development by helping small businesses run by low-income people, the central bank said.