BB's Tk60,000cr stimulus package: 17 banks sign deal to provide Tk41,000cr
The largest allocation — Tk20,000 crore — has been earmarked for reopening industrial factories that have remained closed for a long time.
Seventeen banks have completed agreements to provide Tk41,000 crore for Bangladesh Bank's Tk60,000 crore stimulus package aimed at reopening closed factories, boosting private sector investment, and reviving the stagnant economy.
The 17 banks are Sonali, Agrani, Rupali, BRAC, City, Jamuna, Dutch-Bangla, Mutual Trust, Uttara, Prime, Bank Asia, National Credit and Commerce, Pubali, Eastern, Mercantile, Trust, and Southeast, officials at the central bank's Banking Regulation and Policy Department confirmed to The Business Standard today (27 August).
Bangladesh Bank on 23 May announced the Tk60,000 crore stimulus package to restart closed factories, increase private sector investment, and revive economic activity.
Keep updated, follow The Business Standard's Google news channel
Under the package, commercial banks will contribute Tk41,000 crore, while the central bank will provide the remaining Tk19,000 crore.
The largest allocation — Tk20,000 crore — has been earmarked for reopening industrial factories that have remained closed for a long time.
The private sector will receive loans from the fund at an average interest rate of 7.5%.
