STAFF CORRESPONDENT

Bangladesh Bank yesterday launched a Tk 20,000 crore pre-finance scheme under its total Tk 60,000 crore stimulus package, aiming to revive large industrial and service-sector enterprises that have either shut down or are operating below full capacity due to a shortage of working capital.

BB issued detailed guidelines for the scheme -- “Closed Industry and Service Sector Facilitation Pre-Finance Scheme.”

Under the guidelines, loan defaulters and those involved in money laundering, fund diversion, and fraud will be barred from accessing the low-cost loans.

Any existing loan account cannot be adjusted or settled using loans obtained under the scheme.

The central bank will draw funds from the surplus liquidity held by scheduled banks and lend them to participating banks at a low interest rate.

The banks will then pass these funds on to eligible borrowers as working capital at an interest rate of only 7 percent.

The stated purpose is straightforward: many large factories and export-oriented businesses in Bangladesh still have functional machinery but cannot operate at full capacity because they lack the cash needed to pay workers, purchase raw materials, settle utility bills, or fulfill export orders.

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