Bangladesh Bank on Thursday extended policy supports up to June 30 this year for trade transactions as external trade activities are picking up.
Different policy supports were previously valid until December 31, 2021.
The central bank announced the decision in a notice.
Under the policy supports, import of industrial raw materials, back to back imports, and imports of agricultural implements and chemical fertilisers under supplier’s and buyer’s credit can be extended up to 270 days from 180 days.
The EDF (Export Development Fund) loan to individual member mills of BTMA (Bangladesh Textile Mills Association) and BGMEA (Bangladesh Garment Manufacturers and Exporters Association) will be $30 million instead of $25 million, the notice said.
BB asked banks to thoroughly examine the actual underlying needs before allowing extended facilities.
Recently, a delegation of BGMEA led by its president met Bangladesh Bank Governor Fazle Kabir and demanded raising the EDF loan limit as import costs rose sharply.
