The initiative has not succeeded, the money is not coming back. Because, the influential people killed most of the interest capital of the entrepreneur. Many of them can not be found. Still, efforts are on to provide capital again. It has been involved with the Extortion Fund or the EEF management agency investment corporation of Bangladesh (ICB) and some senior officials of Bangladesh Bank
Till October, the EEF has provided capital of Tk 1,46,550 crore to 955 people across the country. Half of the money is not being paid The ICB has started legal action against the 151 organizations of the agricultural sector and 24 organizations of the IT sector, due to non-refund of the money after the expiry of time and not being properly utilized.
Asked to know, ICB Managing Director (MD) Kazi Sanaul Haque told Prothom Alo that legal action was being taken against those who could not succeed even after having an interest-free capital. The major part of these funding is at the beginning of the beginning. We are now paying a lot of money. It has been confirmed that there should be no accidents. If the inspection report is not good, the money is not being discounted.
This fund, named as EEF, was formed in 2001 with the help of 100 million taka for the development of new entrepreneurs in the agro-based and IT sectors and for the development of the sector. Bangladesh Bank has operated it till 2009. Basically, a large part of the money given at this time can not be traced. After 2009, ICB was given the responsibility to manage the fund. The government has given 2,500 crore taka to the EEF.
According to the rules of the fund, the first installment of EEF assistance is to refund the whole money in the next eight years from the discounted day. In this case, 20 percent of the funds will be refunded within 4 years of the first installment of the fund for agricultural-based projects. In the IT sector, 10 percent of the first installment is to be refunded within 4 years of first installment.
According to the ICB sources, many of those who applied before 2014 are still being provided capital. However, inspection before the money laundering. After that the money will be released. However, most of the visits do not have good information about the projects. Many have invested half the money, while others are hiring someone else's project. However, due to the pressure of some high officials, they have to submit their reports positively and eventually release the money.
Under the pressure of some officials of ICB and Bangladesh Bank, the project is undergoing fresh inspection for the rest of the money. It has also come out, 'The project has been approved on condition that oil will be produced from palm fruit by modern method. But instead of producing palm oil, domestic mustard oil is being produced. Besides, cattle farms have been built inside the project. Still, the process of renewal is underway in the project.
Manzoor Agro MD Manzoor Hossain told Prothom Alo , 'Pam production is not available due to winter, so production is stopped. Cattle Farms, Mustard Oil and Farm Farm My own projects Some officers did not report good on the name of the project, so they have trouble with them. The matter will be addressed. '
Manzur Hossain said that palm plants have been planted in four districts. The central bank's CSR fund has also given Tk 10 lakh for this. But the support is not as usual. "