BB moves to ease Padma bridge financing

The Bangladesh Bank has decided to give additional financing facilities to the local contractors taking part in the construction of the Padma bridge.
A circular from the central bank said Monday the single borrower exposure limit would not apply to local contractors in Bangladesh’s largest infrastructure project till date.
The circular has been sent to the chief executives of all commercial banks.
It means the banks will now be able to provide ‘non-funded’ loans exceeding 20 per cent of their capital to institutions working in the Padma bridge project.
“The central bank took the decision to ease financing for government and non-government institutions involved in the Padma project,” Bangladesh Bank’s Deputy Governor SK Sur Chowdhury told bdnews24.com.