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Refinance scheme launched for tourism sector

  • Staff Correspondent
  • 26 October, 2021 12:00 AM
  • Print news

Bangladesh Bank has introduced a refinance scheme for supporting businesses in tourism sector including hotels, motels and theme parks.

The scheme will support the businesses up to maximum 30 percent of working capital to pay the salaries of the staffer at 4 percent interest rate.

A circular signed by Anwarul Islam, general manager at Department of Offsite Supervision of the central, was issued in this regard on Monday.

The government reopened the tourism spots on August 17 in limited scale.

The tourism industry was hit badly by the coronavirus pandemic as the businesses were closed since early last year.

The circular said the businesses will have to pay the credit within 1 year from the date of issuing the loan.

For issuing the credit, the bank will consider the working capital on December 31, 2020 of the company.

Bangladesh Bank directed all commercial banks to issue the credit facilities to their existing clients affected by the pandemic.

The banks will follow their internal regulations for the issuance.

It said the businesses should attach a recommendation letter from the managing director of the bank with an application to the general manager at the off-site supervision department.

“For disbursing the loan, the banks will consider the average salary of the staff of three months before the period when the businesses were unable to pay salaries due to pandemic,” read the circular.

After the facility is availed, the businesses will have to submit the statement of salary disbursement within first 10 days of each month.

The banks will open application for the owners of hotels, motels and theme parks from November 1, 2021 to October 31, 2022.