BB cuts interest on exporters’ borrowing from EDF

BSS

19th November, 2019 08:52:32 printer

BB cuts interest on exporters’ borrowing from EDF

 Bangladesh Bank (BB) has reduced the interest rate on loans from its Export Development Fund (EDF) by 1 percent to boost exports.

“It has been decided that interest rates on EDF loans to Authorized Dealers (ADs) will be charged by Bangladesh Bank at six-month USD LIBOR (London interbank offered) plus 0.50 percent, while ADs will charge interest to manufacturer-exporters at six-month USD LIBOR plus 1.50 percent for disbursements until June 30, 2020,” according to a BB circular issued on Tuesday.

Earlier, ADs were charged by Bangladesh Bank at six-month USD LIBOR plus 1 percent, with the ADs charging at six-month USD LIBOR plus 2.50 percent on their USD loan disbursements to manufacturer-exporters.

 


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