Central Bank Lowered Interest Rate To Ease Bangladesh Clothing Enterprises Dilemma
The Central Bank of Bangladesh (BB) has 270 poor situations.
Clothing enterprise
The interest rate dropped sharply from 15% to 8%.
BB executive director Jahangir Alam (Jahangir Alam) and Bangladesh
Garment manufacturing
and
Exporter
After a meeting between leaders of the Association (BGMEA), BB governor Atiur Rahman informed that even if the interest rate was reduced to 8%, the owners would also assume 5% of the rest.
interest rate
It will be subsidized by the government.
Mr. Alam said that the BB initiative would help troubled garment owners to get loans at a rate of 8%, thereby helping businesses recover from heavy losses.
He further revealed that 88 out of 280 companies were private.
business
The bank has the money, while the remaining 182 companies owe the money of the public commercial bank.
According to the appeal of clothing exporters, President BB agreed to export development.
fund
From the current US $400 million raise.
However, he did not disclose the number of newly upgraded export development funds.
In addition, the central bank also reduced the current 120 day export repurchase time, in order to allow the country to withdraw foreign exchange in a shorter time.
Mr. Alam said that because of the long time for foreign exchange, Bangladesh still has 2 billion dollars to be withdrawn.
He further said that BB will soon provide second stimulus packages for garment exporters to balance their business backsliding due to the global economic slump.
However, he did not disclose any details of the second package stimulus plans.
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