To continue production, Bangladesh Government has provided Taka 10,500 crore loan on easy terms to the apparel industry.
According to media reports, this was, reportedly, maintained by the country’s Commerce Minister Tipu Munshi while replying to a question in the Parliament on 15 June (Tuesday) even as the Commerce Minister, reportedly, went on to maintain that to help the export-oriented sectors affected by the ongoing pandemic, the Government has set up a fund to provide low-interest loans of Taka 33,000 crore as working capital.
Tipu Munshi further, reportedly, underlined that instead of duty bonds and duty drawback, alternative cash assistance is being provided at the rate of 4 per cent to the export-oriented textile sector while adding that loans at 4 per cent interest are being provided for new market expansion, apart from the UK, US and Canada while loans at 4 per cent interest rate are also being provided to the small and medium industries as well.
The Commerce Minister while also confirming that negotiations to reinstate cancelled orders from buyers of the European Union and United States are continuing, added that further special benefits are being offered at an additional 2 per cent interest rate, with the existing 4 per cent, for exporting to the Eurozone even as in addition, special cash assistance is being provided at the rate of 1 per cent interest in the RMG sector.
He also maintained that size of the EDF fund for the purchase of raw materials for export products, has been increased to US $ 5.5 billion.
