Borrowers will get the funds at 7-per cent interest rate.
Bangladesh Bank recently announced a $4.88-billion stimulus package to support the private sector, boost investment and revive the economy.
The package has two components: a refinancing fund sourced from banks with excess liquidity and another fund drawn from the central bank’s own resources.
Under the refinancing fund, the largest allocation of $1.63 billion has been earmarked for closed factories.
The package has two components. The first is a Tk 410-billion refinancing fund, sourced from banks with excess liquidity through long-term deposits of at least three years at a 10-per cent interest rate.
The second is a Tk 190-billion fund drawn from the central bank’s own resources, subject to a government guarantee.
Under the refinancing fund, the largest allocation of Tk 200 billion ($1.63 billion) has been earmarked for closed factories, followed by Tk 100 billion for agricultural and rural activities, Tk 50 billion for the cottage, micro, small, and medium enterprise (CMSME) sector, and Tk 30 billion each for export diversification and the North Bengal Agricultural Hub.
The central bank’s own fund covers 10 targeted schemes, including pre-shipment credit refinancing, financing for cottage and micro entrepreneurs, overseas employment and start-ups, according to domestic media reports.
The package is expected to create more than 25 lakh jobs across sectors, the central bank said.
Fibre2Fashion News Desk (DS)
