Bangladesh, Nov. 20 -- The central bank has slashed interest rates on loans under the Export Development Fund (EDF) scheme by 1.0 percentage point to facilitate exporters.
As per the revised policy, exporters will now get such loans from the commercial banks at six-month US Dollar (USD) London Inter-bank Offered Rate (LIBOR) plus 1.50 per cent instead of six-month USD LIBOR plus 2.50 per cent.
The new interest rates on EDF loans will be applicable until June 30, 2020 from November 19, according to a notification issued by the Bangladesh Bank (BB) on Tuesday.
"To facilitate export trade, it has been decided that interest rates on EDF loans to ADs will be charged by the BB at six-month USD LIBOR plus 0.50 per cent, while ADs will charge in...