BB hikes refinancing fund for marginal groups to Tk 7.5 bn

Bangladesh Bank (BB) has increased the fund for its Refinancing Scheme for Marginal/Landless Farmers, Low-Income Professionals, School Banking Account Holders, and Small Entrepreneurs from Tk5 billion to Tk7.5 billion.

BB' Financial Inclusion Department has issued a circular to all managing directors, chief executive officers of scheduled commercial banks in this regard on Sunday announcing the fund increase.

The decision aims to address the growing demand for the scheme to support individuals affected by natural disasters, and promote financial inclusion.
At least 25 per cent of loans disbursed under the scheme must be provided to women borrowers, entrepreneurs while third gender individuals are also eligible. The scheme is expected to empower marginalized communities and contribute to the economic development of the country, the circular said.