• Friday, Aug 06, 2021
  • Last Update : 01:02 am

Bus owners to get 100C in low-interest loans

  • Published at 08:45 pm May 23rd, 2021
Dhaka_Tangail Bus
Long-distance buses hit the roads defying coronavirus restrictions as holidaymakers start to return from the northern districts to their workstations in different areas including Dhaka on Sunday, May 16, 2021 Dhaka Tribune

The central bank gave primary approval to the scheme at its board meeting on Sunday

Bus owners will get Tk100 crore long-term soft loans under a special refinancing scheme of the Bangladesh Bank as the transport owners have suffered from the bar on the movement of vehicles amid the pandemic.

The central bank gave primary approval to the scheme at its board meeting on Sunday. It will issue a complete guideline for the low-cost fund soon, said a senior Bangladesh Bank official seeking anonymity.

Also read - Transport owners, workers call for resumption of long-haul services

Financing banks will take the fund from the central bank at 2% interest and distribute the loans at 6% interest among the bus owners, he added.

Bus operators in the country have suffered as they had been off the road owing to the restriction on movement imposed by the government to control the spread of Covid-19.

According to the Bangladesh Road Transport Owners Association (BRTOA), around 80,000 buses, including air-conditioned (AC), non-AC, and minibuses ply different routes. The Bangladesh Road Transport Authority (BRTA) puts the number at 75,348.

Also on Sunday, the Bangladesh Bank approved in principle a $200 million currency swap proposal with Sri Lanka, a country struggling to maintain a moderate foreign exchange reserve. 

However, the currency swap agreement will be finalized after being vetted by the government, a senior central bank official said after the meeting. 

Also read - Inter-district travel opens amid extended Covid-19 restrictions

Under the currency swap proposal, the central bank would provide up to $200 million in foreign currency to meet Sri Lanka’s import, the official said. 

Against the fund, Sri Lanka would keep the same amount of its local currency at the Bangladesh Bank along with a government guarantee.

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