BB to form CGS to support small entrepreneurs
Posted by on Mon, Dec 10 2012 08:57 am
Bangladesh Bank (BB) plans to form a Credit Guarantee Scheme (CGS) with financial support from the Department for International Development (DFID) to reduce risk of loan in THE small and cottage industry sector.
“This fund will act as guarantor for entrepreneurs of small and cottage industry sector when they will take credit from banks. If anyone of these entrepreneurs fails to pay back loan a considerable portion of such a default amount will be paid from this fund,” said Sukomal Singha Chowdhury, general manager of SME and special programmes department of the central bank.
News: The Daily Sun/Bangladesh/10th-Dec-12
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