Bangladesh Bank (BB) in the first one and half months disbursed less than 20 per cent of its Tk60,000 crore financing allocation across 15 stimulus schemes, with six programmes yet to release a single taka and lending to struggling industries, agriculture and start-ups barely moving.
The central bank’s update, released on Sunday, shows cumulative disbursements of Tk11,959.82 crore as of Thursday.
Another Tk2,559.97 crore is under processing, taking disbursed and pending financing to Tk14,519.79 crore, equivalent to 24.2 per cent of the combined allocation.
Two schemes account for nearly 79 per cent of all disbursements, leaving programmes designed to revive closed factories, generate employment and diversify exports with little or no funding released.
The starkest gap is in the Tk20,000 crore pre-financing scheme for closed industrial and service-sector businesses, where disbursements stand at just Tk560.93 crore, or 2.8 per cent of the allocation.
Another Tk929.50 crore is under processing, bringing total disbursed and pending financing to Tk1,490.43 crore, or 7.45 per cent.
Agricultural schemes have fared little better.
A Tk10,000 crore refinancing facility intended to boost agricultural production, food security and rural employment has disbursed only Tk292.90 crore, or 2.93 per cent of its allocation.
A separate Tk3,000 crore scheme to develop an agriculture-based special economic hub in northern Bangladesh has released Tk48.67 crore, just 1.62 per cent.
In contrast, the Tk5,000 crore pre-shipment credit refinancing scheme has recorded Tk6,917 crore in cumulative disbursements, exceeding its stated allocation by 38.3 per cent.
It alone accounts for 57.8 per cent of all lending under the 15 schemes.
Refinancing funds can be used repeatedly through successive lending cycles, allowing cumulative disbursements to exceed their initial size. Bangladesh Bank’s update, however, does not explain the excess under this particular scheme.
The Tk5,000 crore programme for creating entrepreneurs in the cottage and micro sectors has disbursed Tk2,500 crore, reaching half its allocation.
Together, the two schemes account for Tk9,417 crore, or 78.7 per cent of total disbursements.
The Tk5,000 crore working-capital refinancing facility for cottage, micro, small and medium enterprises has released Tk907.73 crore, equivalent to 18.15 per cent of its allocation.
The creative economy scheme has disbursed its full Tk500 crore allocation, while a Tk1,000 crore programme supporting overseas employment has released Tk200 crore.
Start-ups have received just Tk32.59 crore from a Tk500 crore refinancing facility, or 6.52 per cent. Another Tk5 crore is under processing.
Six programmes have yet to disburse any funds, although three report financing under processing.
The Tk1,000 crore scheme for unemployed young people has its entire allocation under processing, while the Tk1,000 crore green factory buildings and green industries facility has Tk527.47 crore awaiting disbursement.
Another Tk98 crore is under processing under the Tk2,000 crore scheme for export-oriented leather goods and footwear businesses.
Three programmes have neither disbursements nor funds under processing: the Tk3,000 crore export diversification refinancing scheme, the Tk1,000 crore rural economic activity financing scheme and the Tk2,000 crore facility for exporters of frozen shrimp and other fish.
Of the Tk2,559.97 crore under processing, Tk1,000 crore relates to youth employment, Tk929.50 crore to closed industrial and service-sector businesses and Tk527.47 crore to green factories.
The remaining Tk103 crore comprises Tk98 crore for leather goods and footwear exporters and Tk5 crore for start-ups.
The contrast is sharpest between the two largest industrial and agricultural support programmes. Together, they carry Tk30,000 crore in allocations but have disbursed only Tk853.83 crore.
Meanwhile, three schemes worth a combined Tk6,000 crore have yet to record even a taka under processing.
Bangladesh Bank announced the Tk60,000 crore financing package on 23 May to revive closed factories, boost investment and create up to 25 lakh direct and indirect jobs amid weak private-sector credit demand and mounting pressure on businesses.
The initiative combines Tk41,000 crore set to be mobilised from banks with surplus liquidity and Tk19,000 crore from the central bank’s own resources under government-backed arrangements.
Five schemes fall under the bank-sourced component, while the remaining 10 cover targeted financing for exporters, entrepreneurs, employment and other priority sectors.
The central bank began putting the framework into operation through sector-specific guidelines and participation agreements with 17 commercial banks by 27 August.
The scheduled financing started on 1 September.
The financing is channelled through participating lenders, which reach borrowers and provide loans under scheme-specific conditions.
Refinancing allows banks to recover eligible funding from Bangladesh Bank after extending credit, while pre-financing makes resources available for onward lending under the relevant arrangements.
