RAKUB organised the cabinet meeting on Monday.

The cabinet has approved a subsidiary company of RAKUB entitled ‘RAKUB SME Financing Company Limited’ with a proposed capital of taka 5,000 million( 500 crore) with a paid up capital of taka 350 million, says a press release. 

The company will be governed by a five-member board of directors. It is learnt, under the financial assistance of Norwegian government, the loan disbursement programme under the Small Entrepreneur Credit Programme started in 2002-2003.

 Presently, the programme is being conducted through RAKUB branches of 40 upazilas of eight districts. After turning the project into a company, not only the small entrepreneurs but also medium entrepreneurs will get the loan facilities.

The Daily Independent/Bangladesh/ 28th Dec 2011