Economists and experts have lauded the stimulus loans for large borrowers and the roles played by the lenders in ensuring quick disbursement of funds, which they maintained has positively impacted the recovery of the business sector, which has had to face a host of challenges due to the coronavirus pandemic.
The apparel manufacturing sector has received immense support from the stimulus fund and it may enjoy a full turnaround from the first quarter of next year, said former official of the International Monetary Fund (IMF), Mansur.
Meanwhile, speaking to the media, Executive Director of the Bangladesh Bank, Abu Farah Md. Naser said in the interest of the quick recovery of the financial sector, disbursement of the whole stimulus package will have to be completed within the next month while the Executive Director of the Policy Research Institute of Bangladesh, Ahsan H. Mansur, said that the stimulus funds have undoubtedly brought a positive output for the economy.
The central bank should immediately carry out a study to confirm companies are using the stimulus fund properly, said Ahsan H. Mansur.
As per reports, 2,062 large companies have received low-cost loans worth Taka 25,461 crore from the central bank’s stimulus package for big borrowers in the industrial and service sectors.
Some amongst the top borrowers, which received the fund, include names such as Zaber & Zubair Fabrics, Nice Spun Mills, Shinepukur Garments, Bextex Garments, Escorp Apparels, claimed reports.
Further, of the total distributed fund, lenders have given around Taka 5,404 crore for the payment of garment workers’ salaries and Taka 20,057 crore as working capital, claimed reports.