Sonali Bank grants Tk1,000cr loan to Biman under stimulus package

The state-owned Sonali Bank Limited has granted Tk1,000 crore in loan to Biman Bangladesh Airlines, under the government-announced stimulus package for the coronavirus affected industries and the service sector.

The bank's board of directors on Thursday granted the loan as working capital for the national carrier that is hard hit by the pandemic to bear its operational costs.

The loan was granted after the central bank had issued a guideline for distributing loans under the Tk30,000 stimulus package.

It may be noted that on April 22, Biman Bangladesh Airlines sought Tk1,500 crore in loan from Bangladesh Bank to meet its operational costs during the lockdown amid the global coronavirus pandemic.

Later, they sent a loan proposal to Sonali Bank. 

Sonali Bank Limited has been providing services to the people through its 1,222 branches amid the countrywide shutdown to keep the economy normal.

The bank's board of directors continued their meetings through videoconferencing since the shutdown began on March 26.

The bank has been making prompt decisions by scrutinising all the proposals put forward by different sectors in a bid to implement the government-announced stimulus package effectively.