Rajshahi Krishi Unnayan Bank (RAKUB) subsidiary SME Financing Company Limited has disbursed a loan of Taka 91.21 crore to Small and Medium Enterprises (SME).

During the current fiscal year, 2022–2023, loans totaling 7,519 SME entrepreneurs were issued to boost the sector in various prospective locations of the Rajshahi region.

Additionally, it has given loans totaling about Taka 15.15 crore to 1,517 female business owners to boost the industry and enhance the living and working circumstances of these women.

During the same period, the business recovered debts of Taka 91.99 cr from 6,957 debtors, including classified loans worth Taka 4.62 cr. Additionally, it generated a profit of Taka 3.92 crore in the previous fiscal year.

There were 10,346 debtors with outstanding amounts totaling about Taka 120.19 crore.

In the meantime, the company's goal for the current fiscal year 2023–2024 is to collect Taka 97 crore and disburse loans totaling 105 crore.

In the first half of the current fiscal year, it has issued loans totaling around Taka 45.18 crore to 3,606 businesses and recovered Taka 49.73 crore from 3,677 debtors.

These were disclosed during the company's field officers' half-yearly performance review meeting 2023, which was conducted in this location's conference room yesterday.

The gathering was presided over by Abdullah Salah Uddin Gazi, the company's chief executive officer, while RAKUB Managing Director Niranjan Chandra Debnath gave the keynote talk.

Additionally speaking were company directors Maksuda Nasrin, Abdur Rahim, and Prof. Rustam Ali Ahmed.

For the target group of individuals to fully benefit from the SME financing initiative, Niranjan Chandra Debnath requested that firm executives accelerate it by stepping up motivational, awareness-building, and monitoring operations.

Referring to the burgeoning SME sector as labor-intensive, he believed that effective sector development may be the key to reducing poverty and creating jobs concurrently with faster economic growth.

He continued, saying that in addition to helping to recover from the financial losses brought on by the Covid-19 epidemic, SME promotion is crucial for closing the gap that now exists between rural and urban regions.
It was reported to the conference that the entrepreneurs in 43 upazilas of the districts of Rajshahi, Chapainawabganj, Natore, Naogaon, Pabna, Sirajganj, Bogura, Joypurhat, and Kurigram received the SME loan.

The primary goals of the loans are to support government initiatives to achieve food security and economic emancipation and to provide an intense investment scope for agro-based SMEs in the context of the government's industrial policy.

Small and medium firm loans have been chosen for investment in a variety of economic industries, including software, agro-processing and related business, agriculture, plantations, fisheries, poultry, tissue culture, leather goods, health services and diagnostic centers, and education services.

End//voice7news.tv