Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has relaxed the procedure of bank loan for the owners of cold storages affected by ongoing political violence across the country, officials said.
The Bangladesh Bank (BB), the country’s central bank, in a circular said on Sunday that the affected cold storages would not have to make fresh down payment in case of taking fresh loan for working capital. However, the goods of the cold storage should cover the loan amount.
Earlier on January 29, the central bank eased the loan repayment for the owners of the cold storages, allowing them five to eight years for paying back their outstanding loans.
The cold storage owners, who borrowed money from banks as project loans, are now getting eight years for loan repayment in half-yearly installments. The repayment period is five years for the owners of the cold storages who borrowed for working capital.
BB also allowed the owners of the cold storages, who rescheduled their loans earlier, get the fresh loan rescheduling facilities.
BBN/SSR/AD-08Mar15-11:55 pm (BST)