Bangladesh Bank (BB) has extended the loan application deadline of the special refinancing scheme for the construction and renovation of cinema halls till 31 December this year.
"The deadline has been extended as the majority of the fund still remains unused and many customers have shown interest in availing this loan," as per a BB circular issued on Wednesday.
In a circular issued on 21 February 2021, the central bank announced the formation of a special refinancing scheme of Tk1,000 crore to provide a term loan facility to cinema hall owners for the construction, renovation and modernisation of cinema halls.
Owners can borrow a maximum of Tk10 crore for construction per unit of new halls and a maximum of Tk5 crore for renovation and modernisation.
The interest rate on this loan is 5% in the metropolitan area and 4.5% outside the metropolitan area. Customers will have a total of eight years with a grace period of one year to repay the loan, the central bank said.
