Bangladesh Bank (BB) on Sunday issued a guideline for the stimulus package of Taka 30,000 crore announced by the government to fight the impact of coronavirus on the country’s economy.
Earlier, the government announced a set of stimulus packages with an allocation of Taka 72,750 crore. Among the allocation, Taka 30,000 crore will be provided to affected industries and service sector organizations as working capital through banks as low-interest loan.
As per the guideline, the loan will be provided for three years. As per the current interest rate of 9 percent, the government will provide 4.50 percent as subsidy for the maximum one year.
The central bank also said loan defaulters will not get any money the stimulus announced by the government for industries to cope up with the impacts of the novel coronavirus pandemic.
The borrowers who have their debts rescheduled more than three times through a special scheme for defaulters to repay will not get the bailout funds either. Only the firms that have faced damage due to the pandemic will get the bailout funds, it clarified.
