The commerce ministry today launched a $7.5 million Covid-19 response fund to help private enterprises procure plant equipment and produce medical and personal protective equipment in the country.
Commerce Minister Tipu Munshi virtually announced the commencement of the fund called "Covid-19 Enterprise Response Fund (CERF) or Window-4" initiated with the support of the World Bank.
Under the CERF, the fund will support private enterprises to procure plant equipment and produce medical and personal protective equipment on a sustainable manner, said Md Hafizur Rahman, project director and additional secretary of the ministry.
The grants -- ranged between $50,000 and $500,000 -- will be made available to private Bangladeshi farms, he said.
About 50 applications will be accepted on a competitive basis for the grants, which would be awarded on a first-come-first-served basis.
Salman F Rahman, private industry and investment adviser to the prime minister; Mercy Miyang Tembon, country director for Bangladesh, spoke at the event as special guests.
Md Jafar Uddin, senior secretary of the commerce ministry, chaired the event.