Muhith for reducing microcredit interest

Stressing the need for reducing interest of microcredit for the benefit of small businesses, Finance Minister AMA Muhith on Sunday said steps will have to be taken to reduce the microcredit interest considering its enormous role in the country's socio-economic development. "Microcredit is playing an important role to make the people living under the poverty line self-reliant but the rate of interest of this credit is a little bit higher . . . if we are able to cut down this rate, it would be more helpful for small businesses," said the finance minister while speaking at the inaugural session of a national conference on "Role of microcredit institutions in social development and poverty alleviation," according to a news agency.