Stimulus package loans: BB gives additional grace period to export-oriented industries
The central bank has provided an additional grace period of six months to export-oriented industries so they can repay the loans of a stimulus package unveiled to pay wages to workers.
Bangladesh Bank today issued a circular in this regard. As per the circular, borrowers will be entitled to a grace period for another six months from March.
This means workers will have to start paying the first installment in September. As per the previous decision, the grace period was until January.
However, the decision to repay the loan in 18 installments per month is still valid.
In the first phase, these institutions were given loans of Tk 5,000 crore at 2% service charge and Tk 5,500 crore at 4% interest.
The government will provide 2% service charge and 4.5% interest subsidy on loans to banks from the budget.
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