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Woman businesses seek fund for coronavirus loss recovery

Staff Correspondent | Published: 22:56, Mar 31,2020

 
 

A file photo shows visitors browsing products at a stall at an SME fair held in capital Dhaka. The Women Entrepreneurs Network for Development Association on Tuesday urged the prime minister to set up a fund for the small and medium women entrepreneurs in the country so that they could combat the losses incurred due to the coronavirus outbreak. — New Age photo

The Women Entrepreneurs Network for Development Association on Tuesday urged the prime minister to set up a fund for the small and medium women entrepreneurs in the country so that they could combat the losses incurred due to the coronavirus outbreak.

The Women Entrepreneurs Network for Development Association works to create employment opportunities for 73 lakh unemployed women in the country and has been contributing to the country’s gross domestic product through local and international business.

In a letter to the prime minister, WEND president Nadia Binte Amin said that they feared that unless the government came to their rescue, 30 to 40 per cent of the small and medium women entrepreneurs in the country would cease to exist in the near future.

Nadia said that while members of the association were not able to invest large amounts into their businesses, they were also unable to have access to institutional support to recover from the damage incurred during any crisis.

As the coronavirus had hit the economy in the peak of season between February and June, the association estimated that they could only manage to keep operations running till March.

Under the circumstances, the association sought the government’s assistance to keep their businesses in operation and to save the industry.

Nadia appealed to the government to offer cheap loans to the small and medium women enterprises at a rate of 1 to 2 per cent interest rate and she urged that the loans be disbursed by April.

Access to cheap loans will help our members to recover from the losses we are making under the present crisis in six months, Nadia said.

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