Only three banks and two Non-banking financial institutions (NBFIs) reached the loan disbursement target of the second phase incentive package in cottage, micro, small and medium enterprises (CMSME) sector in July-September.
On the other hand, 54 banks & 3 non-bank financial institutions (NBFIs) have failed to reach their targets. They failed to disburse even 25 percent of the target for July-September quarter.
Government allocated Tk 20,000 crore for the Covid-19 affected CMSMEs in the 2021-2022 fiscal year under its second phase incentive package.
Bangladesh Bank sources said, BRAC Bank disbursed Tk 505 crore or 36 percent of the total amount in July-September.
Mutual Trust Bank (MTB) disbursed Tk 66.46 crore or 25 percent of total amount in July-September.
Besides, Midland Bank disbursed Tk 15.32 crore or 25 percent of total amount in July-September.
On the other hand IDLC Finance Limited of five NBFIs disbursed Tk 131.30 crore or 41 percent of total amount in July-September. And United finance limited disbursed Tk 22.44 crore or 34 percent of the total amount in July-September.
Meanwhile Tk 1738 crore of Tk 20,000 crore has been disbursed from July to till October 24. And 13355 affected small traders have availed this facility.
The Central Bank had set targets for disbursement of the loans for 57 banks and five non-bank financial institutions (NBFIs).
The banks were given a target of disbursing Tk 19,345 crore, while the NBFIs will distribute the rest.
A bank official said, Al though they are supposed to repay their loans after one year. But many clients did not repay their loans in time. Banks are showing reluctance to disburse the stimulus loans. Besides Banks are not getting perfect client for giving loans.
Talking about this matter a high official of Bangladesh bank told The News Times that almost all banks have failed to fill their target. We will send letter to them to disburse loans at 50 percent of their total amount by December 2021.
Earlier, the government announced an incentive package of Tk 20,000 crore for micro, small and medium enterprises (CMSMEs) to deal with the impacts induced by Covid-19 in April, 2020. Banks had disbursed Tk 15,400 crore out of Tk 20,000 crore or 77 percent of the total amount last year.
