Bangladesh bank: Bangladesh Bank Governor Md Mostaqur Rahman FCMA on Saturday stated that no lobbying or recommendations would influence the selection of entrepreneurs under the Tk 60,000-crore incentive package announced by the central bank.
According to United News of Bangladesh, the governor emphasized that unlike past practices where influential figures showed significant interest in such packages, this time, neither bureaucrats nor bankers would partake in the final selection process. Instead, the responsibility of selecting new entrepreneurs would rest with a successful entrepreneur. Rahman made these remarks while addressing stakeholders at a discussion held at the Bangladesh Bank Rangpur office, focusing on the implementation of the incentive package for private-sector development.
The governor highlighted the central bank's commitment to ensuring a transparent and influence-free entrepreneur selection process. He declared that any entrepreneur receiving recommendations for financing under the incentive package would face disqualification. This policy aims to guide the financing process for entrepreneurs in every upazila across the country.
In light of the recent July mass uprising, the government intends to engage young people in economic activities. Under the incentive package, loans will initially be provided to 5,000 young entrepreneurs nationwide. Eligible applicants, under 28 years of age with viable business ideas, can receive a maximum loan amount of Tk 20 lakh, with half provided as a bank loan and the other half as a grant.
Rahman further elaborated on the government's efforts to boost industrial development in the northern region. A sum of Tk 3,000 crore from the incentive package has been allocated for establishing agro-based industries. The financing limits are set at Tk 30 lakh for agricultural production, Tk 40 crore for storage, transportation, marketing, and infrastructure, Tk 40 crore for agro-based production and processing, and Tk 15 crore for agricultural exports. Additionally, Tk 2,000 crore in special financing is designated for the export-oriented frozen food sector.
The meeting, chaired by Bangladesh Bank Rangpur office Executive Director Md Salah Uddin, saw participation from several notable figures, including Bangladesh Bank headquarters Additional Director Mohammad Salahuddin Topadar, Rangpur office Director AKM Kamruzzaman, and Rangpur Chamber of Commerce and Industry President Emdadul Hossain, among others.