COVID RESPONSES: THE CASE OF BANGLADESH SMALL AND COTTAGE INDUSTRIES CORPORATION (BSCIC)

Abstract

Bangladesh Small and Cottage Industries Corporation (BSCIC) provided lots of pro-poor services to Bangladesh amid COVID-19 pandemic. Based on such a backdrop, this paper has tried to address the following objectives: i) To assess the impact of COVID-19 on global economy with special reference to Bangladesh; ii) To describe the remedial measures and incentive package undertaken by Bangladesh Government to overcome the COVID pandemic; ii) To have a brief overview of the status of cottage industries with special focus to BSCIC’s role; iv) To identify and analyze COVID responses by the BSCIC during COVID-19 pandemic in Bangladesh. The findings revealed that devastating loss occurred in the major sectors of the economy in USA, China, and Bangladesh. It was observed that BSCIC and some of its industrial units amid COVID pandemic provided various pro-poor services and pragmatic initiatives to help its clienteles, and the Bangladesh society. During the COVID pandemic, the services rendered by BSCIC included producing and distributing of different health hygiene and protective gears i.e., PPEs, surgical face masks, sanitizers and disinfectants and dry food items; allowing delay for the borrowers to repay loans for 3 months and facilitating easy loans for the salt growers under BSCIC at Cox’s Bazar; providing an incentive package for the cottage, small, micro, and medium industries in Bangladesh. Such services and incentive will help them to recover the economic loss incurred by those SME and cottage industries gradually.