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Many CMSMEs in Bangladesh deprived of loans due to lack of documents

Many CMSMEs in Bangladesh deprived of loans due to lack of documents

10 December 2021
| By Invoice Bazaar

In Bangladesh, many cottage, micro, small and medium enterprises (CMSMEs) have not yet received financial support from the government. This is despite the fact that the Bangladesh Bank had announced a stimulus package worth Tk 200 billion for the sector in April 2020 and another Tk 200 billion for the current fiscal year as the nation’s economy has not yet returned to normalcy from the pandemic-induced slowdown since March last year. The SME Foundation says that many CMSMEs are being deprived of credit facilities because they don’t have the documents needed to get a loan from the government-announced incentive schemes.

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Many CMSMEs in Bangladesh deprived of loans due to lack of documents

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