Banks asked to disburse all stimulus package loans by August

Banks have to disburse a major portion of the loans under stimulus packages within July this year and lend the remaining amount by August, the central bank said in a circular issued on Thursday. 

On June 17, and then gain on Thursday, Bangladesh Bank Governor Fazle Kabir held a meeting with the chief executives of the banks that have been allocated TK500 crore and above under the Tk30,000 crore package, as well as of banks allocated Tk300 crore and above under the Tk20,000 crore package for small and medium enterprises (SMEs). 

During the meetings, the chief executives informed the central bank governor that they have taken all measures to implement the packages by July. 

The Bangladesh Bank assured them of help in implementing the stimulus packages. 

In the circular, the central bank said the government had declared the stimulus packages to provide working capital to large industries, the service sector and SMEs to tackle the fallouts of the coronavirus pandemic. 

If the packages cannot be implemented properly, the goal of the packages cannot be achieved either, it said.