BB extends policy supports for exports

Staff Correspondent

15 March, 2021 12:00 AM printer

BB extends policy supports for exports

Bangladesh Bank (BB) on Sunday has extended the policy supports by three months to facilitate local exporters amid coronavirus pandemic.1

After the extension, the export trade will enjoy policy support to June 30, 2021 from March 31, 2021 as per a notification, released by the Bangladesh Bank (BB).

Now, the time for repatriation of export proceeds is extendable to 210 days instead of 120 days from the date of shipment.

Also the back-to-back LCs opened under suppliers’ /buyer’s credits are extendable to additional 180 days within permissible rate of interest. The facility remains valid up to March 31, 2021, which will be extended up to June 30, 2021.

The loan from Export Development Fund (EDF) is extendable to 180 days to June 30, 2021 instead of 90 days for the period up to March 31, 2021.