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19 November, 2019 06:06:00 PM

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Bangladesh Bank cuts interest on exporters’ borrowing from EDF

Independent Online/BSS
Bangladesh Bank cuts interest on exporters’ borrowing from EDF

Bangladesh Bank (BB) has reduced the interest rate on loans from its Export Development Fund (EDF) by 1 percent to boost exports.

“It has been decided that interest rates on EDF loans to Authorized Dealers (ADs) will be charged by Bangladesh Bank at six-month USD LIBOR (London interbank offered) plus 0.50 percent, while ADs will charge interest to manufacturer-exporters at six-month USD LIBOR plus 1.50 percent for disbursements until June 30, 2020,” according to a BB circular issued on Tuesday.

Earlier, ADs were charged by Bangladesh Bank at six-month USD LIBOR plus 1 percent, with the ADs charging at six-month USD LIBOR plus 2.50 percent on their USD loan disbursements to manufacturer-exporters.

HM

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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