EDF funds now stoods at 600 million dollars

Bangladesh Bank has added another 500 million dollars to the Export Development Fund (EDF) as part of standing by the country’s exporters. The money has been given to the EDF fund from the country’s foreign exchange reserves. With the addition of  500 million dollars, the size of the EDF fund has increased to 6 billion dollars. The amount in Bangladeshi currency is about Tk 51,000 crore. This information has been confirmed by the Deputy Governor of Bangladesh Bank Kazi Chaidur Rahman.

The size of the EDF has been increased in three phases as part of standing by the economic exporters caused by the epidemic. As per the government’s expectation, Bangladesh Bank increased the size of EDF from 3.5 billion to 5 billion dollars in April last year. At the same time, the interest rate was reduced to 1.75 percent. Then in March this year, another 500 million dollars was added to the EDF fund. This time, the size of the EDF fund was increased to 6 billion dollars by adding another 500 million dollars.

Sunbd/NJ