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Trade-based cottage, micro, small and medium enterprises (CMSMEs) would be able to borrow more from the government’s stimulus package after the central bank yesterday raised the ceiling by five percentage points.
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Bangladesh has received $256.5 million from the global Green Climate Fund to promote private sector investment through large scale adoption of energy-efficient technologies in the textile and garment sectors.
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Investment has not picked up in Bangladesh despite the reopening of the economy five months back largely due to the deep uncertainty caused by the coronavirus pandemic which continues to creep along.
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Exporters and local businesses have received a shot in the arm since June on the back of improved economic activity but the fragile recovery could evaporate before taking root if the country is hit with a second wave of the Covid-19.
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The second wave of Covid-19 will derail Bangladesh’s feeble economic recovery, deal a massive blow to the poor and low-income groups, reduce fiscal space and constrain public expenditure, said economists.
