Bangladesh Bank bosses rolled out fresh rules Wednesday to pump more cash into the country's startup scene. The central bank bigwigs hiked loan limits for new businesses from 2 crore taka all the way up to 8 crore taka. Young entrepreneurs can grab bigger chunks of money to get their dream companies off the ground. The bank chiefs want to create more jobs and spark innovation across the nation. These changes should make it way easier for startups to get the funding they desperately need.
The new rules let anyone over 21 years old apply for startup loans with no upper age limit. Banks can offer both regular loans and equity deals to hungry entrepreneurs. A brand new venture capital company will help startups get equity investments from major banks. The central bank will provide a massive 500 crore taka fund to help banks refinance their startup loans. Interest rates got slashed down to just 4 percent maximum for startup borrowers.
Banks get special breaks from strict rating systems until 2030 when they lend to startups. The financial giants only need to keep half a percent in reserves against startup loans. Existing businesses can still qualify if they registered within the past 12 years. The bank officials worked with various groups to create these startup-friendly policies. These moves should give Bangladesh's tech sector the boost it needs to compete globally.
The new rules let anyone over 21 years old apply for startup loans with no upper age limit. Banks can offer both regular loans and equity deals to hungry entrepreneurs. A brand new venture capital company will help startups get equity investments from major banks. The central bank will provide a massive 500 crore taka fund to help banks refinance their startup loans. Interest rates got slashed down to just 4 percent maximum for startup borrowers.
Banks get special breaks from strict rating systems until 2030 when they lend to startups. The financial giants only need to keep half a percent in reserves against startup loans. Existing businesses can still qualify if they registered within the past 12 years. The bank officials worked with various groups to create these startup-friendly policies. These moves should give Bangladesh's tech sector the boost it needs to compete globally.
