BB creates Tk 2,000cr refinance scheme for shipbuilding industry

Bangladesh Bank (BB) has formed a Tk 2,000 crore refinance scheme to develop the country's shipbuilding industry.

Under the scheme, a customer can get a loan with a 4.5 percent interest rate, BSS reports citing a BB circular issued Thursday.

Customers can take loans as per their needs, based on the bank-customer relationship.

However, the maximum limit of the loan was not mentioned in the BB circular.

The loan application deadline is set for June 30, 2024.

The circular also said that depending on the needs of a customer, the term loan can be taken for 12 years, of which the grace period will be 3 years.

No loan is permitted for the construction of dockyards, land purchases, or leases. The loan taken from this scheme cannot be used to repay any other loan.

The working capital loan is also eligible under the scheme for one year. If the business is good, loans can be renewed. However, the loan (working capital) cannot be renewed for more than 3 years.