Bangladesh Bank has announced a Tk 20,000 crore fund to help large industries and service sector entities fully operationalize closed or partially operational factories. Entities can borrow up to Tk 200 crore at a 7% interest rate. The current bank interest rates exceed 14%, making this a significantly lower rate. The fund aims to inject momentum into the sluggish economy and create employment. Banks can borrow from this fund at a 4% interest rate and lend to customers at a maximum of 7%.
Key Features of the Scheme
The scheme, named 'Closed Industries and Service Sector–Supportive Pre-financing Scheme,' allows companies to borrow up to Tk 200 crore for working capital. Banks can place representatives in borrowing companies to ensure proper use of funds. Successful implementation will earn state recognition for both companies and banks.
