Bangladesh Bank raises interest rate for loans from EDF

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Bangladesh Bank raises interest rate for loans from EDF

BTJ Desk Report
02/02/2023
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Banks have been requested to cash out 50% of exporters' retention deposits

Bangladesh Bank (BB) has raised the interest rate on loans made from its Export Development Fund (EDF) by 50 percentage points.

“It has been decided that interest rate on EDF loans to ADs will be charged by Bangladesh Bank at 3% pa, while ADs will charge interest to manufacturer-exporters at 4.50% pa, for disbursements until further instructions,” as per a BB circular issued Wednesday.

Other relevant instructions on EDF shall remain unchanged.

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