KARACHI: State Bank of Pakistan (SBP) has unveiled the ‘SME Asaan Finance Scheme’ for the Small and Medium Enterprises (SME) to facilitate those enterprises who cannot pay collaterals for accessing financial services.
According to the details, the Asaan Finance Scheme will provide an impetus to the growth of SMEs in Pakistan by developing a mechanism that will help to access credit facilities to potential enterprises.
The central bank will extend refinance services to those banks who desire to extend lending services to SMEs.
As per the press release issued by SBP, the banks will be selected through a competitive bidding process to offer concessionary refinance facilities.
Federal Minister for Finance, Shaukat Tarin while expressing his views said that the new initiative will help to strengthen the SME sector in Pakistan.
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