Dhaka, Bangladesh (BBN)– The central bank has increased the allocation of the export development fund (EDF) to US$400 million from the existing $300 million to meet the growing demand of the country’s exporters.
“We’ve enhanced the amount of EDF with a view to facilitating export trade of the country,” a senior official of the Bangladesh Bank (BB) said, adding that others provisions of the Fund will remain unchanged.
The central bank issued a circular in this connection on Wednesday and asked chief executives of all scheduled banks to follow the new instructions for sanctioning loans under the EDF scheme.
“The central bank is providing the re-financing facilities to the exporters through commercial banks as short term liquidity support,” the BB official added.
BBN/SSR/SI-27Oct10-10:13 pm (BST)