Regulatory Alerts2019-03-31
Added · Updated
SMESPD Circular No. 01: Loan fund for pre-finance under Program to Support Safety Retrofits and Environmental Upgrades in the Bangladeshi Ready-Made Garments (RMG) Sector Project (SREUP)
Bangladesh Bank establishes a EUR 50 million loan fund to provide pre-finance to Participating Financial Institutions (PFIs) for on-lending to eligible RMG factories for safety retrofits and environmental upgrades. Sub-loans are capped at BDT-equivalent of EUR 1 million, extendable to EUR 3 million, with a maximum interest rate of 7% per annum and a maturity of up to 7 years. PFIs must meet specific eligibility criteria, including a minimum of seven years of operational experience, a CAMELS rating of at least Satisfactory, and Non-Performing Loans not exceeding 7%. On-Lending Loans from Bangladesh Bank to PFIs carry a 3.5% interest rate, with penalties applied for false information or overdue amounts.
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