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02 April 2023

Business Insider Bangladesh

NRBC Bank to provide loans to exporters at 4% interest

BI Report || BusinessInsider

Published: 19:30, 31 January 2023   Update: 15:18, 1 February 2023
NRBC Bank to provide loans to exporters at 4% interest

Photo: Courtesy

NRBC Bank will provide loans to finance exporters at 4 percent.

This loan will be given from the `Export Facilitation Pre-Finance Fund (EFPF)’ of Tk 10,000 crore which is formed by Bangladesh Bank to continue the ongoing trend of development and expansion of export-oriented industries.

An agreement has been signed with Bangladesh Bank in this regard On January 30, said a press release.

In the presence of Governor of Bangladesh Bank Abdur Rouf Talukder, Bank’s Managing Director and Chief Executive Officer Golam Awlia received the agreement paper.

Bangladesh Bank Deputy Governor Abu Farah Md Nasser and Executive Director Nurun Nahar were present as special guests and senior officials of both institutions were also present.

Bangladesh Bank formed EFPF under simple conditions to ensure sufficient liquidity for this sector with the aim of making the export-oriented institutions more resilient against the adverse global economic conditions and also to continue the development and expansion of the country's export-oriented industries.

Traders will get a maximum Tk 200 crore loan from this fund for importing raw materials of export products at 4 percent interest.