News
Up to $25m loans for RMG exporters from Export Diversification Fund (EDF)
Summary
Updated on : 23-05-2018
The ceiling for loans to RMG exporters from the Bangladesh Bank’s Export Diversification Fund (EDF) has been raised by $5 million.
The central bank issued a circular on Monday where it said manufacturers and exporters will now be able to take up to $25 million in loans against instruments like LCs, back-to-back LCs and export orders.
The ceiling of the loan, for member organisations of the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) and Bangladesh Textile Mills Association (BTMA), has been revised up from the previous $20 million.
In an effort to prop up the country’s export sector, the Bangladesh Bank’s started the EDF in 1989 with a fund of $30 million, which has now grown to $2.5 billion.
Courtesy: Bangla Tribune
Most Recent News
| Title | Category | Created On |
|---|---|---|
| New UK scheme aims to boost trade with Bangladesh | General | 2021-07-23 13:04:59 |
| Chinese company to invest $42m in Ishwardi EPZ | Investment | 2021-07-23 13:02:47 |
| BINs made mandatory for online businesses | General | 2021-07-22 11:09:39 |
| India to invest $9.26m in Chattogram EPZ (BSS) | General | 2021-07-22 11:03:36 |
| Commerce ministry takes steps to ensure fair price of rawhides (BSS) | General | 2021-07-22 11:01:08 |
Search All News
