 Thursday, June 25, 2020 11:36:01 PM |
Follow Us On: 
BREAKING NEWS:
Large industries can avail loans for 3 years from stimulus fund
By
26th-Jun-2020
Economic Reporter :
Large industries and service sector entities can receive loans for three years under the stimulus package of Tk30,000 crore if they do not avail the total eligible amount in a year.
In a circular on Thursday, the Bangladesh Bank allowed banks and non-bank financial institutions to issue loans to eligible borrowers in phases in three years and instructed the lenders to include a bigger number of business entities in the stimulus package.
Earlier, an entity had been entitled for the low cost loan just for one year.
"The central bank brought the relaxation with a view to ensuring the loan facility for a greater number of affected businesses so that they can accelerate and revive their business," a senior official of the central bank told.
He also said the policy relaxation would allow banks to utilise the stimulus packages for the maximum number of borrowers.
For instance, a borrower - entitled to receive a loan of Tk300 under the stimulus package - will now be able to take the loan facility in three phases, Tk100 each time, in three years.
If the entire Tk300 is issued to a single borrower in the first year, it will be difficult for banks to provide the facility to the maximum number of borrowers, which prompted the central bank to issue the circular.
Following the outbreak of novel coronavirus, the government announced a number of stimulus packages for businesses - including the Tk30,000 crore one for the industries and service sectors.
During the three-year package, the government will pay half of the applicable 9 percent interest, and borrowers will have to pay the remaining half.
The central bank circular said if it is not possible to disburse loans in full limit to any customer, the remaining amount can be disbursed to the borrower within the package duration.
The total existing loans of borrowers must be within 30 percent of the working capital limit as of December 31, 2019, the circular added.
Besides, the same limit will be applicable for the new borrowers as well, it said.
The Bangladesh Bank also clarified that the interest subsidy will only be given against the loans that are within the specified limit.
The central bank official said till now around 140 entities have availed Tk2500 crore to Tk3,000 crore loans from the stimulus package.
News Archive
Inside The New Nation
-
Editorial »
Chinese delegation came, criticised the mismanagement in hospitals but offered no help
ALTHOUGH the World Health Organisation (WHO) has a guideline for Infection Prevention and Control (IPC) in the healthcare outlets especially dedicated to Covid-19 treatment only a handful of hospitals follow it, as per reports published in national dailies. Health experts opined that many lives could have been saved during the ...
-
City »
Chief of Naval Staff Admiral Aurangzeb Chowdhury handing over 'Sword of Honour' to best all rounder midshipman Asif Mehraj at Bangladesh Naval Academy at Patenga in Chattogram on Wednesday.
-
Entertainment »
Virat shares an unseen throwback picture with wife Anushka
Since the coronavirus lockdown, most celebrities are sharing their throwback pictures from the past. Recently cricketer shared his and wife Anushka Sharma unseen snapped on the social media. He's back in the time post revealed a sneak-peek from their vacations showcasing a picturesque view of snow-clad mountains while sitting with ...
-
Entertainment »
Why heroine of Razzak was changed several times in Sandhi
Sheikh Arif Bulbon :In 1987, Sandhi, produced by Zohra Gazi and directed by Gazi Mazharul Anowar, was the commercially most successful film. Razzak-starrer this film was released on the occasion of Eid-ul-Fitr in 1987. In that Eid, Momtaz Ali’s Niyot, AJ Mintu’s Lalu Mastan and Shah Alam Kiron’s Niyotir Khela ...
-
Cricket »
Hafeez says he has tested negative for coronavirus
Pakistan's Mohammad Hafeez has tested negative for coronavirus - a day after the country's cricket board said he was among 10 players in their squad to tour England who had been infected.All-rounder Hafeez, 39, said in a tweet that a subsequent examination at a private laboratory in Lahore had cleared ...
-
Business & Economy »
Md Rezaul Karim, Chairman of Shippers' Council of Bangladesh (SCB), presiding over the 2nd meeting it Board of Directors at its conference room at Dhanmondi in the capital on Wednesday. Senior Vice Chairman Md Ariful Ahsan, Vice Chairman Md Monir Hossain, Directors Arzu Rahman Bhuiyan, A K M Aminul Mannan (Khokon), Syed Md Bakhtiar and Ganesh Chandra Saha were also present.
-
International »
Kim suspends plans for military action against S Korea
Al Jazeera News :North Korea has announced it will suspend "military action plans" against South Korea, after a meeting of the governing party's Central Military Commission presided over by leader Kim Jong Un, the official KCNA news agency said on Wednesday. The video conference meeting on Tuesday also discussed documents ...
-
Editorial »
If government can attract MNCs to relocate in Bangladesh that will be welcome
A national daily reported on Tuesday that Bangladesh needs administrative reform and must give increased incentives to leverage the shifting global supply chain such as multinationals companies (MNCs) now planning to relocate their manufacturing facilities out of China to avoid impact of US-China trade war and Covid-19 fear. But as ...
-
International »
Newborn Mexican triplets test positive in `unprecedented` case
Newborn triplets in Mexico have tested positive for coronavirus in an "unprecedented" case, according to local health authorities.Medical experts are investigating whether the disease could have been passed on through the mother's placenta during pregnancy.Two of the babies, one boy and one girl, are in a stable condition in a ...
-
Sports »
Virus cases raise questions over Djokovic tournament
AFP, Paris :Grigor Dimitrov, Borna Coric and Viktor Troicki have all tested positive for coronavirus after taking part in an exhibition tennis tournament in the Balkans featuring world number one Novak Djokovic, raising questions over the sport's planned return in August.Croatia's Coric, ranked 33rd in the world, revealed Monday he ...
-
Sports »
US figure skating champion Alysa Liu announces coach change : Two-time and reigning U.S. figure skating champion Alysa Liu has left her long-time coach Laura Lipetsky and will train with a team of veteran coaches, Liu revealed on the US Figure Skating (USFS) website on Tuesday.
-
Entertainment »
Jacqueline opens up about honing her skills during the lockdown
The lockdown has surely been a tough time for one and all and everyone has been doing their bit to stay as positive and productive. Jacqueline, apart from her brilliant performances as an actress is also known for her positive approach towards life. The actress shares how she is managing ...
-
Entertainment »
Runa’s praiseworthy remark makes Tinni speechless
Entertainment Report :Promising singer Kaniz Khadiza Tinni became speechless after getting praiseworthy remarks from legendary singer of the Subcontinent Runa Laila. Runa Laila rendered a play-back song titled Aamar Mon Bole Tumi Ashbe got popularity during the time of release of film Anarkoli dir ected by late Dilip Biswas. This ...
-
City »
Bangladesh Trade Union Kendra formed a human chain in front of the Jatiya Press Club on Tuesday to realize its various demands including security of workers in their jobs.
-
Editorial »
Govt trusted MPs are not trusted by the people
ECONOMISTS and governance campaigners on Sunday denounced the allocation of Tk 20 crore to each of the rural MPs in order to improve infrastructures in their areas. They said that the lawmakers should only be engaged in legislative affairs, not in project implementation.They raised questions about the viability of such ...
| The New Nation - Oldest English Daily of Bangladesh | ||
| Site Map | Privacy | Terms of Service | RSS | Help | Site Feedback | ||
| Copyright © 2013 - All Rights Reserved News: The New Nation Web: www.thedailynewnation.com | Editor: A.M. MUFAZZAL, Managing Editor: ARSHAD HOSEIN. Printed and published by MAINUL HOSEIN from the New Nation Printing Press. The New Nation, 1 R.K. Mission Road, Ittefaq Bhaban (3rd floor), Dhaka-1203, Bangladesh, Phones: PABX: 47115875, 47115879, 47114514, Fax : 880-2-47115865, email: For News: n_editor@bangla.net, n_news@bangla.net, For Advertisement, nnation@bangla.net | Designed & Developed by : |