Regulatory Alerts2009-12-22
Added · Updated
FEPD Circular No. 25: Master Circular on Export Development Fund (EDF)
The document consolidates the operational procedures for the Export Development Fund (EDF) for Authorized Dealer banks, establishing an interest rate of six-month USD LIBOR plus 1 percent for disbursements from January 1, 2010, with Authorized Dealers charging six-month LIBOR plus 2.5 percent to manufacturer-exporters. It sets a loan ceiling of USD 10 million or the permissible input import limit, whichever is lower, and mandates repayment within 180 days of disbursement, extendable to 270 days. Eligibility requires compliance with the Import Policy Order, foreign exchange regulations, and single borrower exposure limits, while excluding manufacturers defaulting on export proceeds repatriation within 120 days.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.