FEPD Circular No. 13 : Export Development Fund (EDF)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 13 Date: October 10, 2013 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Export Development Fund (EDF) Please refer to paragraph 5 of FE Circular No. 25, dated December 22, 2009 in terms of which an EDF loan to an Authorized Dealer (AD) bank against their foreign currency financing of input procurement for manufacturer-exporter and BTMA member mill does not exceed permissible entitlement or USD 10 million, whichever is lower. It has now been decided to enhance the above limit from USD 10 million to USD 12 million.

2. Attention of ADs is also invited to FE Circular No. 04, dated February 10, 2013 regarding EDF loan availability to BGAPMEA member mills for bulk import of input procurements. It has now been decided that EDF loans will be available also to member mills of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) making bulk import of raw materials for local deliveries of garment accessories to manufacturer-exporters against inland back to back LCs in foreign exchange. An EDF loan to an AD against their foreign currency financing of input imports for a BPGMEA member mill shall not exceed (i) the value realized in foreign exchange against inland back to back LCs over the past twelve months, or (ii) USD 500,000 (five hundred thousand), whichever is lower.
3. Other instructions contained in FE Circular No. 25, dated December 22, 2009 and its subsequent circulars shall remain unchanged. Yours faithfully, (Md. Jahirul Hoque) Deputy General Manager Phone: 9512604