Dhaka, Jan. 30 -- Bangladesh Bank (BB) today inked "Participation Agreements" with 49 commercial banks for Tk 100.00 billion Export Facilitation Pre-finance Fund (EFPF).

The central bank formed the EFPF fund for exporters to continue the development and expansion of export-oriented industries.

Under the fund, exporters will be able to take loans in local currency against the purchase or import of raw materials at an interest rate of four percent. The tenure of the loan will be 180 days, reports BSS.

However, the interest rate will be 1.5 per cent for banks, according to a central bank release.

Addressing the agreement signing ceremony, BB Governor Abdur Rouf Talukder said, "I strongly believe that this fund will contribute significant...