SMEs, agri activities in flood-hit areas: SBP extends refinance scheme for revival

RECORDER REPORT

KARACHI: The State Bank of Pakistan (SBP) has extended the expiry date of the Refinance Scheme for Revival of SMEs and Agricultural Activities in the flood-affected areas by one year i.e. from November 30, 2012 to November 30, 2013.

Refinance limits already sanctioned in favour of selected banks under this Scheme will also continue to be available up-to November 30, 2013, said SBP’s IH&SMEFD Circular No.13 issued on Monday.

Banks/Development Finance Institutions (DFIs) can also apply for enhancement of limits after utilization of their existing limits. Further, other interested banks/DFIs, with branches in flood affected areas may also apply to the IH&SME Finance Department of the SBP for sanctioning of fresh limits under the Scheme separately for agriculture and SMEs the Circular Letter added.