• Thursday, Jul 29, 2021
  • Last Update : 12:39 pm

BB releases initial Tk2,000cr from govt stimulus package

  • Published at 12:14 pm May 3rd, 2020
Web_bangladesh-bank--Mehedi-Hasan
File photo of the main entrance of Bangladesh Bank in Motijheel, Dhaka Mehedi Hasan/Dhaka Tribune

'38 banks applied for Tk2,566.19 crore from package'

Bangladesh Bank has initially released Tk2,000 crore to banks from the government's Tk100,000 crore stimulus package on Monday.

“We have already released Tk2,000 crore from the stimulus package after getting loans applications from the respective banks. However, 38 banks applied for Tk2,566.19 crore from the package,” said BB Executive Director Md Serajul Islam, also the central bank’s spokesperson, told Dhaka Tribune on Sunday.

He also added that the central bank has applied to the Finance Ministry to get the rest of the money.

Earlier, export-oriented businesses were asked to submit loan application to their respective banks within May 2 to avail the benefits of the government’s stimulus package.

As per a central bank circular, banks have also been allowed to disburse the fund for the payment of wages of the respective businesses from Sunday.

“The Tk5,000 crore fund would be disbursed as wages to workers and employees equally for three months from April to June,” according to BB guidelines.

As per the guidelines, companies availing the loans under the package will have to pay back the sum within two years, or else they will be considered as defaulters.

The interest-free loan, which will be used to pay wages to the employees of the industrial units, will carry 2% service charge and has a repayment period of two years, including a grace period for six months from July to December this year.

Prime Minister Sheikh Hasina announced a stimulus package Tk100,000 crore stimulus package to fight the upcoming economic crisis brought on by the coronavirus pandemic on April 16. 

“The virus has caused a negative impact on the world economy and the United Nation and some other international organization have forecasted a severe economic crisis worldwide. To overcome the crisis a basic stimulus package of Tk96,000 crore has been declared, which in total will stand up to Tk100,000 crore,” she said. 


59
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail