Bangladesh Bank (BB) on Sunday announced that it would allow loan facilities to export-oriented units for the payment of employee salaries.
These units have been facing difficulties due to the recent domestic political situation and the global economic environment.
As a result, many industrial units have struggled to pay their employees. To ensure uninterrupted production, BB will extend loan facilities to these export-oriented industries.
Term loans will be provided to active export-oriented industries to cover salaries and allowances for August 2024.
These loans will be based on the banker-customer relationship, and the amount will not exceed the average salary and allowance paid by the borrower over the last three months.
Industries that export at least 80 per cent of their total production will qualify as export-oriented units.
Additionally, those that have paid salaries for the months of May to July will be considered active or operational factories.
To qualify, these factories must obtain certification from the relevant trade association (such as BGMEA, BKMEA, etc.) confirming their operational status. The prevailing market interest rate will apply to these loans.
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