Bangladesh Bank to unveil $500m fund to promote exports, green projects | 2015-07-23 |

Bangladesh Bank to unveil $500m fund to promote exports, green projects

Sun Online Desk     23rd July, 2015 07:02:22 printer

Bangladesh Bank to unveil $500m fund to promote exports, green projects

Bangladesh Bank (BB) Governor Dr Atiur Rahman on Thursday said that the central bank will announce two special funds totaling $500 million dollar for promoting export and green projects.


Of the total amount, $300 million would go to export sector while $200 million would be set aside for green financing, the governor said, adding that the two funds would be in foreign currency, reports BSS.


Referring to the existing $2 billion Export Development Fund (EDF), the governor said the two special funds would be additional to the existing EDF and would be launched with the announcement of the new Monetary Policy Statement (MPS) late this month.


The governor while exchanging views with the economic reporters on the MPS for the first six months of the current 2015-16 financial year (FY16) at a city hotel, said the primary objective of the next MPS would be facilitating sustainable financing to help accelerate investment for attaining inclusive growth.


He said the coming MPS would have a special attention to socially and environmentally responsible financing to protect the environment for the next generation.


"Like previous ones, the next MPS would also prioritise financing productive sectors including agriculture, manufacturing and export-oriented enterprises", Dr Rahman said.


He admitted that there were some problem in the country's banking sector, but this time the MPS would be announced in a more comfortable situation when economy was stable with steady export growth, consistent exchange rate, strong reserve and remittance inflow and low level of inflation.


"I am facing the challenge of a plenty", the governor said humorously.


Regarding allegations of irregularities in the banking sector, he said the central bank already got equipped with latest technology to monitor the activities in the banking sector more intensively and effectively.


Besides, he said BB is now enjoying more liberty than ever before in decision making process, which had also started reflecting in activities in establishing discipline in the banking sector.