Textile mill owners in Bangladesh have called upon the country’s central bank to increase the limit of Export Development Fund (EDF) to US $ 40 million.
Media reports maintained this adding the President of mill owners’ association (Bangladesh Textile Mills Association or BTMA) Mohammad Ali Khokon has sent an application in this direction to the Governor of Bangladesh Bank recently in which he, reportedly, underlined even if it is not possible to increase the limit, to consider extending the repayment period.
In the application, the BTMA President, reportedly, further added the EDF is a landmark initiative to increase and facilitate exports. But, due to the fallouts of COVID-19, prices of raw materials in the global market have become three times higher, owing to which the current EDF limit of US $ 25 million cannot meet the demand.
