DHAKA, April 7, 2020 (BSS) – Bangladesh Bank (BB) has increased the Export
Development Fund (EDF) size to US$5 billion from $3.5 billion in line with
the government’s efforts to tackle the economic impacts for COVID-19.
Exporters will now be able to borrow from the EDF at an interest rate of 2
percent.
“To facilitate export trade due to COVID-19 related disruptions, it has
been decided that interest rates on EDF loans to the Authorized
Dealers (Ads) will be charged by the central bank at 1 percent per annum
(pa), while ADs will charge interest rate to manufacturer-exporters at 2
percent pa, for disbursements until further instructions,” according to a BB
circular issued here today.
The size of EDF has been enhanced to $5 billion, the circular added.
Other relevant instructions will remain unchanged.