Tk3,000cr more added to stimulus package for large industries
The companies that have not availed any stimulus loans in the previous two phases will get priority this time
The Tk27,000 crore stimulus package meant for large industries and services sector has entered into its third phase with Tk3,000 crore more for extending support to 100% foreign industrial units and businesses jointly owned by local and foreign entities.
Some Tk27,000 crore has been earmarked for large industries and services sector, according to a circular issued by the Bangladesh Bank on Thursday.
Besides, the units that are operating under Bangladesh Economic Zones Authority, Bangladesh Export Processing Zones Authority, and Bangladesh Hi-Tech Park Authority and firms with cent-percent foreign ownership and joint-venture companies with foreign and Bangladeshi ownerships outside the zones will be eligible for getting loans from the newly-added Tk3,000 crore fund, the circular added.
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The companies that have not availed any stimulus loans in the previous two phases will get priority this time, the circular also said.
According to an earlier circular of the central bank, the loan tenure will be one year, and if the entire amount approved cannot be disbursed to a client at a time, the remaining disbursal can happen during the remaining term of the package.
However, a loan amount will in no case exceed 30% of companies' working capital as on 31 December 2019.
According to the new circular, the companies, which availed loans in the previous two phases, will not be eligible for new stimulus loans.
The third phase of stimulus loan disbursements has to be completed by 30 June next year.
