SME loan for women grows 30 per cent

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Sonia H Moni Loan disbursement for Small and Medium Enterprises (SMEs) run by women entrepreneurs increased significantly during the first six months of the year compared to the last year. Bangladesh Bank (BB) data showed that banks and non-banking financial institutions (NBFI) gave out Tk 9.81 billion to 6,638 women entrepreneurs in January-June period, which is 30 per cent higher than the same period last year. General Manager of SME and Special Programme Department of Bangladesh Bank Sukamal Sinha Choudhury said the disbursement amounted to Tk 7.54 billion in the same period last year. "We're planning to scale up lending for women entrepreneurs day by day," Mr Choudhury said. He said the central bank has taken a host of initiatives to boost disbursement of SME loans among female entrepreneurs so that they can contribute to the economy. "We've also taken steps to build awareness among the women entrepreneurs about the loan through organising fairs. The central bank is collecting data about women entrepreneurs who are not yet getting loans," the BB official told the FE. "The data will help financial institutions make proper decision while disbursing the loans," he added. Many women entrepreneurs of lagging areas lack information about the collateral-free lending schemes of banks and NBFIs, he added. BB officials said different banks and financial institutions offered Tk 261.63 billion in SME loans in January-June period of the year for 149,887 small and medium enterprises. The figure was Tk 238.17 billion in the corresponding period of the last year.