12:00 AM, May 07, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

BB lifts curbs on foreign loans for EPZ enterprises

BB lifts curbs on foreign loans for EPZ enterprises

Star Business Report

Bangladesh Bank has lifted restrictions on industrial enterprises in Export Processing Zones (EPZs) to borrow loans from overseas.
The industrial units in the EPZs will have to submit loan applications through their authorised dealer banks to Bangladesh Export Processing Zones Authority (BEPZA), which will send the proposals to BB for approval, the central bank said in a notice.
For non-EPZ enterprises, a separate scrutiny panel under the Board of Investment approves foreign loans.
But enterprises in EPZs that do not fall under BOI's jurisdiction could not apply for external borrowing that costs less than local loans.
There are three types of enterprises in EPZs: fully foreign-owned, joint ventures and local companies. All companies will be able to borrow from external sources, according to the notice.


Leave your comments