Regulatory Alerts2021-07-15
Added
BRPD Circular No. 16: Stimulus Package as Working Capital Loans/Investments to Pay Salaries-allowances for the Workers of Hotel/Motel/Theme Park of Tourism Sector
The Prime Minister announced a 1,000 crore Taka financial support package for the tourism sector, authorizing commercial banks to provide working capital loans or investments at a maximum interest rate of 8% to hotels, motels, and theme parks for paying worker salaries and allowances. The loan term is limited to one year, with the borrower paying 4% and the government subsidizing the remaining 4%. Eligible institutions must not have previously received benefits from other government or Bangladesh Bank stimulus packages, and banks must submit their allocation limits by July 25, 2021, while managing subvention claims and reporting via specific annexures.
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