BSCIC distributes Tk 50cr stimulus loan among micro entrepreneurs

Staff Correspondent: The Bangladesh Small and Cottage Industries Corporation (BSCIC) has distributed Tk 50 crore as stimulus loan among the micro and cottage industry entrepreneurs to overcome their shock from the COVID-19 pandemic.
The loans were distributed among some 926 male entrepreneurs and some 490 female entrepreneurs through 64 BSCIC offices across the country.
BSCIC Chairman Md Mostaque Hasan said that collateral free soft term loans from the stimulus package were given to the affected micro and cottage industry entrepreneurs amid the pandemic.
“Those entrepreneurs who are affected and engaged in productive sector have only received those loans,” he added.
The BSCIC Chairman informed that the Ministry of Finance had allocated Tk 50 crore against the BSCIC under the stimulus package for disbursement of loans among the affected entrepreneurs in the last fiscal year (FY21) and the entire amount has been disbursed within the stipulated timeframe.
Mostaque said that there is a huge demand for loans among the micro and small entrepreneurs and for this the BSCIC has sought Tk 2,500 crore more from the Ministry of Finance.
“The entrepreneurs are getting loans from the BSCIC with ease and comfort compared to banks for which there is a huge demand for its loans,” he added.
Meanwhile, the Ministry of Finance has allocated again Tk 50 crore against BSCIC in the current fiscal year (FY22) for disbursing loans among the micro and cottage industry entrepreneurs.