Dhaka: Over 70.0 percent of money from the SME refinancing scheme had been disbursed to small entrepreneurs when more than 90.0 percent of the recipients of the loan were small investors, according to Bangladesh Bank (BB).

Refuting media reports that the major portion of the SME loan was given to big borrowers, the central bank in a statement on Tuesday disclosed data, showing 70.65 percent of the total loan, disbursed last year, went to the small investors.

BB said that banks and financial institutions in 2015 disbursed a total of Taka 789 crore 97 lakh among 4,455 borrowers. Of the total amount, Taka 557.43 crore was given to 4,375 entrepreneurs who borrowed Taka 10 thousand to 1 crore. On the other hand, Taka 232.54 crore was disbursed among 80 entrepreneurs who borrowed Taka over 1 crore.  

Early this month, BB set the SME loan disbursement target at Taka 1 lakh 13 thousand 503 crore and 43 lakh for 2016, which is higher by 8.52 percent from the target of 2015.

Last year the central bank targeted SME lending at Taka 1 lakh 4 thousand 586 crore and 49 lakh, but the disbursement for 2015 was higher 10.79 percent to Taka 1 lakh 15 thousand 870 crore 48 lakh.