Regulatory Alerts2013-10-22
Added · Updated
SMESPD Circular Letter No. 02: Inclusion of Micro Enterprises and RMG Sector Safe Working Environment Program under Two Step Loan Fund
The Operating Guidelines for the FSPDSME project are amended to include micro enterprises as defined by the Industrial Policy 2010, with the sub-loan lower limit re-fixed at BDT 200,000. An exception is approved for RMG and Knitwear factories that are BGMEA or BKMEA members with 100-2000 employees and owned by the applicant, allowing loans up to BDT 100,000,000 for retrofitting, rebuilding, and relocation. For this RMG program, the TSL fund provides 100% pre-finance support, disbursement occurs in at least three tranches upon engineer certification, and loan terms extend to a maximum tenure of 15 years with a grace period of two years and a maximum interest spread of 5% over the Bangladesh Bank rate.