Bangladesh Bank has introduced an installment facility to repay loans from the Export Development Fund (EDF), reports UNB.
From now on, the entire loan liability can be paid in three installments, which had to be paid at once earlier.
The Foreign Exchange Policy Department (FEPD) of Bangladesh Bank issued a guideline in this regard on Thursday and sent it to all authorized dealers engaged in foreign exchange transactions.According to the Bangladesh Bank directive, exporters can partially repay the EDF loan liability. A maximum of two partial repayments can be made during the loan tenure.
The circular stated that the remaining liability is to be repaid in one go during the loan tenure. That means exporters can pay the entire debt in three installments.
Sector insiders say that exporters had to face issues with the repayment at once, as export income is not available at the same time.
In such a situation, the exporters will be able to partially pay the EDF liability in installments only after receiving the export proceeds under the new directive.
Bd-pratidin/Tanvir Raihan
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