Eighteen private sector banks in the country are set to access financing in US dollars through the ‘Bangladesh Bank Long Term Financing Facility’ (LTFF), a foreign currency-managed long-term fund. Entrepreneurs from export-oriented manufacturing firms will be eligible to receive dollar-denominated loans from these banks, with a maximum interest rate of 8.5 percent. The agreement between these commercial banks and Bangladesh Bank was formalized recently.
Those 18 banks that have signed the agreement include Mutual Trust Bank, The City Bank, Bank Asia, Jamuna Bank, United Commercial Bank, Trust Bank, Southeast Bank, NCC Bank, Premier Bank, Pubali Bank, Midland Bank, Shahjalal Islami Bank, Exim Bank, Standard Bank, Prime Bank, Dhaka Bank, BRAC Bank, and Eastern Bank.
In a collaborative effort between the World Bank and Bangladesh Bank, loans totaling USD 27.37 crore have been provided to 56 industrial enterprises for durations ranging from 3 to 10 years.
Comment here