BB raises interest for safety retrofit facility

Bangladesh Bank has issued a notice today raising the interest rate on a pre-finance facility under a support safety retrofits and environmental upgrades programme (SREUP) to 7 percent from 5 percent.

However, the interest rate for customers for whom loans have already been sanctioned will remain at 5 percent per annum, it said.

The interest rate for financial institutions which would disburse the loan among customers has also been refixed at 4.5 percent per annum, meaning that their margin would be 2.5 percent, said the BB notice.

Loans will be sanctioned on a "first come, first served" basis and other instructions will remain unchanged, it added.