Bangladesh Bank (BB) has extended policysupports by three months up to June 30 from March 31 this year to facilitatethe country’s export trade amid the ongoing Covid-19 pandemic.
“Bangladesh Bank has decided to continue its policy supports till June 30instead of March 31 mainly due to the ongoing Covid-19 pandemic,” said a BBcircular issued on Sunday.
Under the policy supports, time for repatriation of export proceeding willbe extended to 210 days instead of 120 earlier from the date of shipment.
As per the circular, back to back letters of credit (LCs) opened undersupplier’s or buyer’s credit will be extendable up to 180 days more withinpermissible rate of interest.
Loan from Export Development Fund (EDF) is extendable till additional 180days instead of 90 days.
Refinancing from EDF up to 180 days is allowed on justifiable groundsrequired for settlement of import payments against back to back LCs openedunder supplier’s or buyer’s credit.
