SME entrepreneurs to get Tk 100cr loan in current fiscal

The SME (Small and Medium Enterprise) Foundation will provide a loan of Tk 100 crore from the government stimulus package to its entrepreneurs in the current fiscal year to offset the damage caused by the coronavirus pandemic.

SME Foundation Chairperson Md Masudur Rahman revealed the information at the 15th Annual General Meeting of the organisation.

He added that the remaining Tk 200 crore of the incentive package will be distributed in the next financial year.

There will be a regular coordination with the Bangladesh Bank to ensure smooth disbursement of these loans among the actual affected entrepreneurs through banks and financial institutions, said a press release issued on 27 March.

SME Foundation General Manager Nazim Hasan Sattar presented the statistics at the meeting held at Parjatan Bhaban Auditorium in Agargaon on Friday.

Nazim said in Fiscal Year 2019-20, 10,199 entrepreneurs benefited from various activities of the SME Foundation related to product marketing, skill development and market expansion of products produced at home and abroad.

Of the entrepreneurs, 4,509 are women and 5,690 men.

The report of the board of directors on the activities of SME Foundation for the financial year 2019-20 was presented at the meeting presided over by the foundation Chairperson Professor Md Masudur Rahman.

The audited financial statement of FY20 and the report of the auditor were approved while the budget for the financial year of 2021-22 was presented and approved at the meeting.

Nazim Hasan Sattar also said the participating SME entrepreneurs sold products worth Tk 4.95 crore and received sales order worth Tk 6.38 crore at the 8th National SME Products Fair in 2020.

Besides, in the SME Fair held in 26 districts in the country in FY20, products worth Tk 8.59 crore were sold while product order worth Tk 7.36 crore had been received by the SME entrepreneurs.

The board of directors and members of general assembly of the SME Foundation participated in the 15th Annual General Meeting.