Employee correspondent |

Published: 10:22 PM, 09/07/2021

Stakeholders on Tuesday called for structural reforms to make loan disbursement processes easy for micro, micro, and small and medium-sized enterprises.

In an online program, they said the government needs to implement loan disbursement policy and structure reform ensure the benefits of the stimulus loan package for the CMSMEs.

The SME Foundation and Dhaka Chamber of Commerce and Industry jointly organized the SME stimulus loan procedure program.

Stakeholders suggested proposed setting up a specialized SME bank and a comprehensive SME database to ensure financial support for the sector as a lifeline.

They also said that a simpler documentation process, a good relationship between banks and SMEs, cash flow based credit sanctions , the consideration of working capital loans as fixed-term loans and the Be Consideration of large and small investors alike will support the CMSMEs in recovering from the Covid crisis.

The chairman of the SME foundation, Masudur Rahman, joined the program as the main guest and its managing director Mafizur Rahman as the guest of honor .

Rizwan said CMSME’s contribution to GDP is only 25 percent, which is lower than that of other countries such as the Philippines, Vietnam, Sri Lanka and China.

Seventy-three percent of the government’s announced stimulus package for the CMSME sector has already been distributed, but a large number of the CMSMEs are still withheld that fund, he said Reform issues are working.

Saifuddowla Shamim, SME chief of IDLC Finance Limited, said they are working on developing financial literacy for entrepreneurs.

Editor: Nurul Kabir, Edited by om Chairman, Editorial Board ASM Shahidullah Khan
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Ref: https://www.newagebd.net