BB extends loan rescheduling for Savar leather city

Bangladesh Bank has extended the special loan rescheduling facility for the Leather Industrial City of Savar until December 30 this year, considering the adverse impact of the coronavirus pandemic.

The central bank issued a notice in this regard on Tuesday. The previous deadline for the facility will end tomorrow. 

With the new deadline, defaulters can avail of the facility by paying a down payment, the notice said. 

In 2019, the central bank floated the same rescheduling facility for the bank defaulters in all sectors on easy terms following the government’s policy decision.

The government came up with the policy to bring down soaring non-performing loans in the banking sector.

The borrowers, who will be able to continue businesses, would get a 10-year repayment tenure, including a one-year grace period to repay the rescheduled loans.

The interest rate on the rescheduled loans must be within 9 per cent.