Extension of the credit facility before shipment

Bangladesh Bank says clients will be eligible for loans under the program for three years, with one year already past

TBS Report

September 30, 2021, 21:50

Last modification: September 30, 2021, 9:55 PM

Representative image. Photo: Salahuddin Ahmed / TBS


Representative image. Photo: Salahuddin Ahmed / TBS

The Bangladesh Bank has extended the pre-shipment credit refinancing loan facility to all export-oriented businesses affected by the Covid-19 pandemic.

A circular issued by the central bank on Thursday said customers will be able to benefit from loans under the program for three years, with one year having already passed.

In the new directive, the central bank said many customers had not been able to take advantage of the pre-shipment credit facility over the past year, disrupting their exports. Therefore, this directive has been renewed to revive the damaged economy and boost currencies. earnings.

Depending on the bank-client relationship, a client may avail of these loans more than once. At the customer level, regardless of the loan term, participating banks will be refinanced within a maximum period of 180 days from the date of shipment of the shipment, making them eligible for a one-time repayment with interest at the end. of duration.

Previously, a special Tk 5,000 crore fund called the Pre-Shipment Credit Refinancing Program was set up on April 13 of last year with a circular issued by the same department.

The maximum interest rate on loans at the customer level of this scheme for a period of three years was 6%. This fund will now be open to export-oriented organizations in all sectors.

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