Bangladesh Bank will create two special funds of $500m in total to promote exports and encourage green industry, said Governor Atiur Rahman yesterday.
He said details about the funds would be disclosed in next half-yearly monetary policy statement on July 30.
One fund will be of $300m to be provided by World Bank for export-oriented industries and another of $200m to be supplied by Bangladesh Bank from foreign exchange reserves for green industries.
These will be additional financing to the existing $2bn export development fund (EDF), said the central bank chief at a consultation meeting on monetary policy with the press at a city hotel yesterday.
He said the main objective of the new monetary policy statement would be facilitating sustainable financing to help speed up private investment.
Governor said special attention would also be given to socially and environmentally responsible financing.
The central bank earlier took measures in monetary policy to ensure uninterrupted credit flow to small and medium enterprises, and agriculture sector as such type of initiatives strengthened the financial inclusion, Atiur Rahman said.
He said next monetary policy also would contain such measures to promote financial inclusion.
“New monetary policy will focus on accelerating growth, keeping exchange rate stable, controlling inflation and maintaining strong reserve and remittance inflow,” Atiur stated.
He said Bangladesh Bank had circulated around Tk1,17,000 crore between July 5 and 17 on the occasion of Eid-ul-Fitr, which was 17% higher than that of previous Eid.
“The huge money circulation proved that the demand from the consumers is still high,” he said.
About the banking sector, he said the sector still faced some problems, but the central bank was “making its utmost effort to ensure good governance in it.”
“We are now monitoring every private sector foreign loan to ensure transparency,” Governor said adding that the central bank had already penalised some banks for violation of rules and regulations.