The commerce ministry has launched a $7.5 million COVID-19 response fund for private enterprises to aid them in producing medical and personal protective equipment in an effort to fight the coronavirus.
Commerce Minister Tipu Munshi virtually announced the fund titled ‘COVID-19 Enterprise Response Fund’, initiated with the support of the World Bank, under the ministry’s Export Competitiveness for Jobs project on Sunday.
“Any firm registered and operated in Bangladesh for more than three years can apply for grants ranging from $50,000 to $500,000. The factory has to meet government, social, environmental and other standards and must be financially viable,” he said.In addition to PPE, the grants will go towards the production of diagnostic and clinical equipment.
The project will be implemented within December 2022. Applications would be considered on a first-come-first-served basis.