BB asks banks to lend stimulus on priority

The Bangladesh Bank on Wednesday instructed banks to provide loans from the government’s stimulus packages giving priority to those businesses and services that are yet to receive financial support.

The central bank issued a circular in this regard on Wednesday.

For the current FY 2021-22, Bangladesh Bank allocated Tk33,000 crore as stimulus packages for industries and services sector, which was hit hard by the Covid-19 pandemic.

The interest rate on these loans will be 9 per cent, where the government will subsidize 4.5 per cent of the interest and remaining will pay by the businesses. “Banks will have to give the fund on priority basis on the industries that have affected seriously,” the BB notice said.

In April last year, the government for the first time announced stimulus fund of Tk 30,000 crore for industries and service sectors.