Leather entrepreneurs receive collateral free loans

24 Apr '10

2 min read

With a view to give a fillip to the footwear and leather industry, Janata Bank Ltd (JBL) of Bangladesh recently launched a special loan disbursement program of Tk 70 million for leather-tech graduates and non-graduates.

Seven graduate entrepreneurs, selected through a baseline survey conducted by Bangladesh Bank Governor Mr. Atiur Rahman, would be disbursed Tk 30 million collateral free loans by the Bank under a model pilot project. These graduate entrepreneurs are from Bangladesh College of Leather Engineering and Technology.

Chief Executive Officer and Managing Director of the state-owned Janata Bank Ltd Mr. SM Aminur Rahman informed this while addressing a workshop held at JBL head office. Further he said that the rest Tk 40 million will be provided as house-building loan with collateral.

Moreover, Tk 6 million from bank's Corporate Social Responsibility (CSR) fund will also be provided for capacity building, he informed. Loans and grants will be utilized for dedicated credit lines. In addition to this, bank will also offer facilities such as linkage finance, common finance, relocation of linkage factories, special workers scheme and poverty alleviation scheme.

This pilot project will be conducted by JBL in collaboration with Bangladesh Leather Service Promotion Council (BLSPC) and Bangladesh Leather Service Centre (BLSC).

Fibre2fashion News Desk - India

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