Commerce Minister Tipu Munshi launched a $7.5 million Covid-19 response fund on Sunday, in order to help the private business enterprises procure plant equipment and produce medical and personal protective (PP) materials and equipment in the country.
The minister virtually announced the disbursement of the fund named "Covid-19 Enterprise Response Fund (CERF) or Window-4" initiated with the support of the World Bank (WB). The event was chaired by Md Jafar Uddin, senior secretary of the Commerce Ministry.
Md Hafizur Rahman, project director and additional secretary of the ministry said that the fund, under the CERF will help private enterprises to procure plant equipment and produce medical and personal protective equipment in an efficient and sustainable manner.
He informed that the grants ranged between $50,000 and $500,000, will be made available to private businesses of the country.
Around 50 applications are likely to be accepted on a competitive basis for the grants and would be awarded on a first-come-first-served basis.
Mercy Miyang Tembon, country director for Bangladesh and Salman F Rahman, Private Industry and Investment Adviser to the PM, spoke at the event as special guests.
