Tk 5,000 crore scheme launched for capital machinery purchase
Bangladesh Bank today rolled out a Tk 5,000 crore refinance scheme to help borrowers procure environment-friendly capital machinery.The scheme named “Green transformation fund” will help borrowers to replace their existing capital machinery, which are harmful for environment.Businesses will be allowed to get fund to replace their capital machinery in nine categories.The nine fields include water use efficiency in wet processing, water conservation and management, resource efficiency and recycling, renewable energy and heat and temperature management, according to a central bank notice.Borrowers will enjoy the fund at 5 per cent interest from banks.Lenders, however, will manage the fund at 1 per cent interest from the central bank, meaning that they can enjoy a profit margin of 4 percentage points.The nature of the fund is term loan as the repayment tenure of the fund is more than two years.
BB sets up Tk 50b refinance scheme
Bangladesh Bank (BB) on Wednesday announced a new refinancing scheme worth Tk50 billion to promote green industry in the export and productive sectors.Under the scheme, the green entrepreneurs will be entitled to get loans at a 5.0 per cent interest, according to a circular.The banks will have access to the fund at a rate of 1.0 per cent and will be allowed to keep a margin of 4.0 per cent.The duration of the revolving fund, financed from the BB, will be 5-10 years. The green refinancing will be provided in local currency.Bangladesh Bank has another similar scheme, Green Transformation Fund, worth US$200 million and 200 million euros, to procure capital machinery and others meant for green industrialization.Disbursement from these funds has now become slow due to shortage of foreign currencies.The loans should be given to procuring capital machinery and other equipment required for green industrialization in the country.
BB disburses Tk4,000cr as liquidity support to 5 Islami banks
Bangladesh Bank on Wednesday disbursed Tk4,000 crore as liquidity support to five Islami banks to meet ongoing liquidity crisis, sources in the central bank said.Five Islami banks had earlier applied to the Bangladesh Bank, seeking liquidity support.They are – Islami Bank Bangladesh Ltd, Union Bank Ltd, Social Islami Bank Ltd, First Security Islami Bank Ltd and Global Islami Bank Ltd.The five banks belong to S Alam group.Central bank’s spokesperson Mezbaul Haque told UNB that it was decided to pay Tk4,000 crore against Sukuk bond facility.Islami banks can take more money, if required, under Sukuk bond facility, he said.While BB Governor and Managing Directors of five Islami banks have denied the liquidity crisis in their respective banks, the liquidity shortage is still hampering the daily transaction, sources said.On Monday, the Islami Bank Bangladesh Ltd’s deposits fell to Tk1,46,964 crore. On 31 October, the deposit of the bank was Tk1,53,272 crore.