FEPD Circular No. 36: Export Development Fund (EDF)-relaxation

Refinancing from the Export Development Fund (EDF) for input imports is now admissible for manufacturer-exporters who have no overdues against realizable export proceeds during the 720 days immediately preceding their loan application. This relaxation temporarily overrides the restriction previously established in FE Circular No. 45 dated December 31, 2017, which barred such refinancing for exporters defaulting on repatriation within the statutory period. The measure remains effective until March 31, 2021, while all other instructions in the referenced circular and its subsequent updates remain unchanged.

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Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka. www.bb.org.bd
FE Circular No. 36 Date: August 27, 2020
All Authorized Dealers in foreign exchange in Bangladesh Dear Sirs, Export Development Fund (EDF) - relaxation Please refer to paragraph 4(ii) of FE Circular No. 45, dated December 31, 2017 restricting refinance from EDF for input imports of a manufacturer-exporter defaulting in repatriation of export proceeds within the statutory period or such extension as permitted by Bangladesh Bank.
02. To facilitate export trade amid the ongoing situation due to Covid-19 pandemic, it has
been decided to bring relaxation of the above stated restriction. Accordingly, refinancing from EDF will be admissible in case of no overdues against the realizable export proceeds during the immediate past 720 days from the date of applications by manufacturer-exporters for loans from EDF against concerned input imports. Other instructions contained in FE Circular No. 45, dated December 31, 2017 and its subsequent circulars shall remain unchanged. Please bring the content of this circular, effective till March 31, 2021, to the notice of your concerned constituents. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123

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This document amends: Master Circular on Export Development Fund

Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works