NBL to handle BB export support pre-financing fund

Published : 31 Jan 2023 09:08 PM

National Bank Limited has signed a participation agreement with Bangladesh Bank in the Tk 10,000 crore export support pre-financing fund formed by Bangladesh Bank. 

The participation agreement was signed on behalf of Bangladesh Bank by Maksuda Begum, Director of Banking Regulations and Policy Department and Syed Rois Uddin, Managing Director (Current Charge) of National Bank Limited on Monday. 

In the event, Bangladesh Bank Governor Abdur Rouf Talukder said that due to the adverse situation in the world economy due to the economic shock after the Covid-19 or Corona epidemic and the situation arising from the Russia-Ukraine war, the export-oriented industries of the country should bear more shocks and the ongoing trend of development and expansion of this sector. 

An export support pre-financing fund of Tk 10,000 crore has been set up fully funded by Bangladesh Bank to continue. Direct and indirect exporters will have the opportunity to take loans in local currency against the purchase or import of raw materials at only 4 percent interest from this fund, which will be for a period of 180 days. Bank-level interest rate will be 1.5 percent.