Policy support for exporters increased for another 3 months

The period of policy assistance provided by Bangladesh Bank to address the economic losses due to the epidemic coronavirus has been extended for another three months. This policy assistance will be provided to exporters till June 30. Today, Sunday (March 14), the Foreign Exchange and Policy Department of Bangladesh Bank has issued a notification in this regard.

Earlier, the policy was to provide policy support to exporters till March 31 this year. However, the time limit has been extended to three months to increase the capacity of export trade in the global competition. As part of the policy support, the export price repatriation period has been kept up to 210 days.

In addition, there is an opportunity to extend the term of the back-to-back loan by an additional 180 days at the applicable interest rate. Export period of Export Development Fund (EDF) loan can be extended up to 180 days instead of 90 days. It is also mentioned in the circular that financing facility can be availed from EDF for a period of 180 days for repayment of back-to-back debentures established under Suppliers / Buyers Credit.

Sunbd/NJ