FBCCI wants export support fund to expand to $5b gradually
Md Alamgir said the FBCCI recommended lowering the bank rate to ease business operations and stressed the importance of maintaining a stable exchange rate.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the Bangladesh Bank governor to expand the Export Development Fund (EDF) to $5 billion gradually and raise the single borrower exposure limit to support businesses.
Speaking to journalists after a meeting today (6 April) at the central bank headquarters, FBCCI Secretary General Md Alamgir said the EDF, established to aid exporters, has sharply declined in size.
"It previously stood at around $7 billion but has now fallen to nearly $2.2 billion. We did not propose a sudden increase to $5 billion; rather, we suggested a gradual expansion," he explained.
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Alamgir added that the FBCCI recommended lowering the bank rate to ease business operations and stressed the importance of maintaining a stable exchange rate.
He noted that, according to the governor, a rise in the US dollar rate is unlikely as banks currently hold sufficient dollar liquidity, and he expressed confidence that inflows would remain strong in the near term.
On lending limits, Alamgir said the current single borrower exposure cap is 15%, and the FBCCI proposed increasing it to 25% to enable larger financing for businesses.
He also highlighted the need to safeguard borrowers from Sammilito Islami Bank, underlining that keeping businesses operational is crucial to ensure timely loan repayment.
