Home ›› 02 May 2020 ›› World Biz
The state-run Sonali Bank has granted Tk 1,000 crore as loan to national flag carrier Biman Bangladesh Airlines, under the government-announced Tk 30,000-crore fiscal stimulus for the industries and service sector.
The bank's board of directors on Thursday gave its consent about the loan as working capital for the national carrier, which is greatly affected by the coronavirus pandemic.
Md Ataur Rahman Prodhan, managing director and chief executive officer of Sonali Bank, told The Business Post a portion of the fund will be disbursed to Biman within four days.
It is not a good news that the national flag carrier will suffer from cash crunch, he said, adding that the bank had approved Biman’s loan proposal within a day.
On April 22, Biman sought Tk 1,500 crore in loan from Bangladesh Bank to meet its operational costs during the persisting global pandemic.
Later, the central bank sent a loan proposal to Sonali Bank.
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