BB raises allocation for SME re-financing scheme to Tk 5.0b

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The central bank of Bangladesh has raised the allocation for the re-financing scheme aimed at facilitating development of small and medium enterprises (SMEs) to Tk 5.0 billion (500 crore) from Tk 3.0 billion.

The board of directors of Bangladesh Bank (BB) approved the allocation in a meeting held at the central bank Tuesday with BB Governor Salehuddin Ahmed in the chair.

'We have increased the amount of the re-financing fund aiming to meet the growing demand in the SME sector,' a BB senior official told the FE after the meeting.

He also said the central bank will provide the fund to the commercial banks for increasing their investments in the sector.