BB launches Tk 30 billion refinance scheme to boost export diversification

Bangladesh Bank (BB) launched on Sunday a Taka 30-billion (3,000 crore) export diversification refinance scheme aimed at strengthening production capacity and expanding the country's export base beyond the ready-made garments (RMG) sector, reports BSS.
The Sustainable Finance Department of the central bank issued a circular in this regard, saying the scheme has been introduced to address product and market concentration risks arising from Bangladesh's heavy dependence on RMG exports and to support the development of high-potential export sectors.
According to the circular, the refinance fund will be formed from the excess liquidity of scheduled banks and will operate as a revolving fund.