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Bangladesh approves new COVID-19 stimulus packages for small businesses, low-income communities

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The Bangladeshi government has approved two new COVID-19 stimulus packages of 27 billion taka to support small and medium enterprises and low-income communities.

Bangladesh’s Ministry of Finance in a statement said on Sunday implementation of the new packages will begin shortly.

Bangladesh had earlier approved 21 stimulus packages. With the addition of these two new packages, the total number of COVID-19 stimulus packages in the country stood at 23 with an overall outlay of 1.24 trillion taka which is 4.44 percent of GDP.

Bangladeshi Finance Minister AHM Mustafa Kamal said that the new stimulus packages, approved by Prime Minister Sheikh Hasina, would help small businesses as well as low-income communities affected by the COVID-19.

The size of the freshly approved first stimulus package is 15 billion taka and out of this amount, 3 billion taka will reportedly be given to the Small and Medium Enterprises Foundation for expanding its operations meant for the cottage and small organizations alongside facilitating the female entrepreneurs.

The size of the fresh 2nd stimulus package is 12 billion taka and it will be spent for bringing the poor people, widows and husband-abandoned women of some 150 upazilas (subdistrict) under the government allowances in the next fiscal year. (1 United States dollar equals about 86 taka)

(XINHUA)

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