The Bangladesh Bank on Thursday extended the relaxed loan repayment facility for the shipbuilding industry to tackle adversities derived from the ongoing pandemic.
As per the central bank circular, the shipbuilding industry will get another two-year moratorium to pay back bank loans.
Earlier, the Association of Export Oriented Shipbuilding Industries of Bangladesh (Aeosib) urged different policy support including incentive packages repayment easing so that the industry can tackle the impacts of the Covid-19 outbreak in Bangladesh.
However, the central bank has now extended the moratorium period by another two years, given that they paid 5 percent of their total loan installments payable last year.
Bangladesh Bank issued the notice as per instructions from the finance ministry, according to the central bank notice.
An industry insider said the shipbuilding industry fell into crisis once again soon after the business slowdown by the coronavirus pandemic. So, this facility will give breathing space to shipbuilders.
Earlier, the finance ministry recommended the central bank for relaxing the loan facility for the shipbuilding industry.