The Bangladesh Bank has directed to disburse the loan of the incentive package announced by the government between July-August. The directives were given at a meeting of all bank’s chief executives with Governor Fazle Kabir on Thursday (July 2nd).
A circular has been issued and sent to the chief executives of the banks at the same night.
According to the circular issued by the Banking Regulation and Policy Division of Bangladesh Bank, various loan incentive packages have been announced to revive income-generating activities in the coronavirus-affected industries, services and agriculture. If these packages are not implemented in time, the main purpose of the package will be disrupted. In this case, it is suggested that most of the incentive packages be implemented by July this year and the rest by August.
The government has announced an incentive package of around tk 1 lakh crore for small and big traders affected by the Corona.
Of this, big industries will get loans of Tk 30,000 crore through banks. The small and medium industries will get tk 20,000 crore. Although the interest on these loans is calculated at 9 percent, the borrowers have to pay an average of half the interest. The rest of the interest will be paid by the government to the banks in the form of subsidy.