Muhammad tareq ; DHAKA – Bangladesh Bank has announced a massive stimulus fund worth Tk 60,000 crore aimed at reviving the economy and reopening closed factories across the country.
Bangladesh Bank Governor Mostakur Rahman made the announcement during a press conference held at the central bank headquarters on Saturday afternoon.
Presenting the details of this special fund, the Governor expressed high optimism that this financial initiative would help generate around 2.5 million (25 lakh) new jobs in the country.
Interest Rates and Eligibility
Governor Mostakur Rahman revealed that the government will provide a 6% interest subsidy on loans disbursed from this fund, allowing end-consumers or borrowers to access the credit at a 7% interest rate.
Out of the total Tk 60,000 crore package, commercial banks will supply Tk 41,000 crore, while the remaining Tk 19,000 crore will be formulated as a refinance scheme by the central bank.
According to the press briefing, besides reopening closed factories, the loan facilities will be extended to crucial sectors including agriculture, readymade garments (RMG), CMSMEs (Cottage, Micro, Small, and Medium Enterprises), green initiatives, and the creative economy. The central bank expects this move to significantly boost GDP growth and stimulate employment.
Focus on Past Financial Anomalies
During the briefing, Governor Mostakur Rahman also highlighted past financial misconducts, stating, “Around Tk 5 lakh crore has been laundered or stolen from the country. One-third of the total disbursed loans have vanished into thin air, leaving no adequate corresponding assets against them.”