Tuesday, 6 December, 2022
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BB re-fixes interest rate on pre-finance facility under SREUP

BB re-fixes interest rate on pre-finance facility under SREUP

Bangladesh Bank (BB) has re-fixed interest rate on pre-finance facility under support safety retrofits and environmental upgrades programme (SREUP).

"At customer level, the interest rate for pre-financing under SREUP has been re-fixed to a maximum of 5 percent per annum instead of existing 7 percent per annum. This 5 percent interest rate will be applicable to all new and existing sub-loans under SREUP," as per a BB circular issued on Monday, reports BSS.

According to the circular, the interest rate will be paid by PFIs to Bangladesh Bank for On-Lending Loan (OLL) under this Project is fixed at 2.5 percent per annum.

Investment grants will be sanctioned on a "first come, first served" basis; and other instructions of the aforesaid circular will remain unchanged, added the circular.