Business

Youths become entrepreneurs taking collateral-free loan from NRBC Bank

PM tells 'Sheikh Hasina Youth Volunteer Award-2022' givin


Published : 11 Sep 2022 09:10 PM

NRBC Bank is working with the government to develop youth as entrepreneurs. Trained youth are getting an opportunity to become entrepreneurs by taking loans from NRBC Bank without any collateral in partnership with Department of Youth Development.  This venture is undertaken to eliminate unemployment and create new entrepreneurs.   

Prime Minister Sheikh Hasina mentioned this initiative of NRBC Bank in an event and said that an MoU (Memorandum of Understanding) has been signed with the Karmasangsthan Bank and NRBC Bank to develop youth as entrepreneurs. 

From here, our trained youth can become entrepreneurs with Tk.5.00 lac to Tk.10.00 lac loan as startup capital. A special allocation has been kept for this program in the budget. 

Prime Minister Sheikh Hasina mentioned these at the 'Sheikh Hasina Youth Volunteer Award-2022' ceremony at the Osmani Memorial Auditorium in the capital on Sunday.

Sheikh Hasina virtually connected to this program from her official residence Ganabhaban as Chief Guest. 

The Prime Minister also said that the youth are being given loans from the Karmasangsthan Bank without any guarantee so that they can become entrepreneurs and create employment for others. NRBC Bank is providing loans to trained youth on easy terms and condition under an agreement with Department of Youth Development. Through this initiative more youth will be able to avail loan facilities up to Tk.10 lac from 4 percent to maximum 9 percent interest for creating self-employment and employment for others. To become entrepreneurs, priority will be given to women, third gender and people with special needs. Besides, NRBC Bank is disbursing loans to the entrepreneurs under the CMSME sector at only 7 percent interest. Recently, NRBC Bank and Bangladesh Bank signed an agreement in the presence of Bangladesh Bank Governor Abdur Rouf Talukder to provide this loan from the Central Bank's refinancing fund of Tk. 25,000 crore.

NRBC Bank has already given loans to 25 thousand entrepreneurs who availed loan facilities of Tk.4,600 crores.  Tk. 175 Crore loans were disbursed under the first and second incentive package to entrepreneurs of the CMSME sector for the coronavirus crisis. 

500 entrepreneurs availed this low interest loan facility. In addition, NRBC Bank has introduced micro credit facilities for the marginalized people at rural level. With the aim of creating employment at home, Tk.1,500.00 crores of loans have already been distributed among 36 thousand entrepreneurs.