The New Nation - Internet Edition

UNB, Dhaka

The budget has proposed to raise SME Endowment Fund to Tk 200 crore in the next fiscal year from existing Tk 100 crore in an effort to promote small and medium enterprises in the country.

In addition, funding for the SME Refinancing Scheme of Bangladesh Bank has also been proposed to enhance from Tk 300 crore to Tk 500 crore.

Proposing the enhanced allocation, Finance Adviser Dr Mirza Azizul Islam in his budget speech yesterday said an SME Foundation has been established to implement the SME policies and strategies of the Government and to facilitate required reforms in this sector.

Governed by a Board of Directors based on the principle of public-private partnership, the foundation comprises experts from the public and private sectors, he added.

The Foundation was providing recommendations to the government to assist it in identifying problems in the SME sector and in determining strategies for their resolution.

To promote women entrepreneurship, Dr Aziz said the SME Foundation has constituted a forum titled National Women Entrepreneurs Forum. The Foundation has been asked to commence its credit operation to provide credit to the SME entrepreneurs at a low rate of interest.

Besides, a programme has been taken up to create a database with the data inputs derived from a nationwide survey. Last year, the Foundation provided assistance to enhance efficiency of about 5,000 entrepreneurs.

"SME helpline centres will be established in each district across the country," the Adviser said.