The Bangladesh Bank (BB) will hold the biggest-ever gathering of women entrepreneurs in the city on March 13 to popularise the bank's small and medium enterprise loan facility among special beneficiaries through establishing a platform with all stakeholders.
"A gathering of 500 women entrepreneurs is expected in the fair-cum-conference which the bank has planned for the first time to assess the success of the central bank's refinancing scheme for women entrepreneurs," said Mohammad Masum Patwary, General Manger of BB's SME and Special Programme Department.
He said it will also be a gathering for other stakeholders including the World Bank, the Asian Development Bank, the Japan International Cooperation Agency, commercial banks, financial institutions, chambers and CIRDAP which are involved with the SME and women entrepreneur development activities in the country.
Officials of the SME and Special Programme Department said during the daylong event, women entrepreneurs will not only get scope to display or sell their diversified products but also attend a conference on business-related issues for getting better understanding on networking and stakeholders.
Bangladesh Bank Governor Atiar Rahman will inaugurate the fair at the Ruposhi Bangla where both traditional and non-traditional products like boutique, bids, beauty items, leather items etc., produced by women entrepreneurs will be on display.
Two sessions on 'women in business network and organisation,' and 'stakeholders in women SME development' will also be held on the occasion.
The central bank has taken a number of initiatives for ensuring women entrepreneurs' access to finance during the last four years. Since introduction of the SME refinancing scheme in 2010, the bank allocated 15 per cent of the refinancing scheme for women entrepreneurs, established dedicated desk for women entrepreneurs in all banks, introduced group loan facility for cottage, micro and small female entrepreneurs, motivational programme for female entrepreneurs in cluster, 10 per cent interest loan and up to Tk 2.5 million collateral free-loan among many other initiatives.
It also held seminars and meetings to create enthusiasm among all for availing the special facilities.
"So the event will now be an opportunity for the central bank to understand its achievement and failure as well as get future directives of their initiatives," the SME head added.
He said with the central bank initiatives, 52 clusters have been identified throughout the country. The bank has created scope to bring the financial institutions and loan recipients at a place to overcome the barriers in getting loans.
Since the SME refinancing scheme introduced, a large number of females in businesses have got the loan facilities. Though the entrepreneurs often alleged non- cooperation from the banks in getting the loan, the officials said, lack of awareness on procedure of applying for loans and preparing necessary documents were the obstacles for the banks and financial institutions to provide the loan.
Due to the central bank's efforts and directives to both commercial banks and financial institutions, the number of female entrepreneurs getting SME loan has increased. But it is still very nominal in percentage of total loan size for other entrepreneurs.
Only two to three per cent of the SME loan has so far been disbursed to women entrepreneurs.
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