Digital nano loan refinancing scheme extended until June 2028: Bangladesh Bank

Bangladesh Bank has extended the tenure of its refinancing scheme for digital nano loan facilities until June 30, 2028, in a move aimed at expanding financial inclusion and encouraging marginalised communities to adopt digital transactions.

The central bank initially launched the scheme in 2022 with a revolving fund of Tk 100 crore to provide low-interest digital microloans or investments to underserved groups.

The fund was later increased to Tk 500 crore but has now been revised back to Tk 100 crore, according to a circular issued by the central bank on September 9.

The scheme was designed to reduce economic disparity, promote inclusive and sustainable financial sector growth, and diversify financial products and services catering to the needs of disadvantaged communities.

Bangladesh Bank said the extension would ensure the continuation of ongoing digital nano loan operations, enabling marginalised people to become more accustomed to digital financial services.

Other instructions mentioned in previous circulars on the scheme will remain unchanged, the circular added.