BRPD Circular Letter No. 21: Loans/Investments from Stimulus Fund with Minimum Service Charge for Active Export-Oriented Industries Due to COVID-19

Ref No: BRPD Circular Letter No. 21
Banking Regulation and Policy Department
Bangladesh Bank
Head Office
Dhaka.
27 April 2020

BRPD Circular Letter No. 21 Date: --------------------- 14 Baisakh 1427

Managing Director / Chief Executive
All Scheduled Banks operating in Bangladesh.

Dear Sir,

Regarding the provision of easy-term loan/investment facilities as financial incentives for active export-oriented industries due to the outbreak of Novel Coronavirus (COVID-19).

Reference is drawn to your attention to BRPD Circular No. 07 issued on 02 April 2020, BRPD Circular Letter No. 14 issued on 08 April 2020, and BRPD Circular Letter No. 19 issued on 15 April 2020 on the subject cited above.

2) The government has decided that under the aforementioned financial incentive package, salaries/allowances will be paid to workers/employees working in Jute, Leather, and Ready-Made Garments (RMG) industries, as well as in e-commerce industries.

3) In response to applications from trade organizations representing various industrial establishments, it has been decided that the deadline for submitting applications for loans/investments to pay salaries/allowances to workers/employees in active export-oriented industries mentioned in the referenced circulars and circular letters is extended to 02 May 2020. Based on applications received by 02 May 2020, lending/investing banks must ensure that their loan/investment demands are forwarded to the Bangladesh Bank by 03 May 2020.

4) These instructions shall be implemented immediately.

5) All concerned parties are requested to be informed about the aforementioned matter.

Yours faithfully,

(Md. Nurul Alam)
Deputy General Manager
Phone: 9530359