Monday, May 06, 2024
The Bangladesh Bank has offered a relaxed loan rescheduling facility for the country’s shipbuilding industry to help the industry who were affected by the Covid-19 pandemic and the volatility in the global economy created by the Russia-Ukraine war.
The central bank issued a notice in this regard on Tuesday.
Under the relaxed policy, banks will be able to reschedule the defaulted loans of borrowers from the sector for 10 years including 2 years grace period.
Banks will have to collect 2.50 per cent as a down payment to offer the facility.
The loans which were approved through scams and irregularities would not get the rescheduling facility.
Banks will take legal action if borrowers do not repay the loans during the period, as per BB notice.
Bangladesh has now over 200 shipbuilding companies, mostly concentrated in Dhaka, Chattogram, Narayanganj, Barishal and Khulna.
According to a recent study by the Bangladesh Investment Development Authority (BIDA), currently Bangladesh earns about Tk 15,000 crore annually from the shipbuilding industry.
