Tk 25,000 crore refinance scheme unveiled for CMSMEs

Bangladesh Bank today unveiled a Tk 25,000 crore refinance scheme for cottage, micro, small and medium enterprises (CMSMEs).

The refinance scheme against term loans for the CMSME sector will be revolving and will have a three-year tenure, said the central bank in a notice.

"If needed, the fund size will be increased," it said.

The new scheme is aimed at creating easy access to funds for the entrepreneurs in the sector.

Lenders will receive funds at 2 per cent from the central bank, while CMSME borrowers will get loans at a maximum interest rate of 7 per cent.