National Bank and Bangladesh Bank sign Export Facilitation Pre-finance Fund agreement

National Bank Limited signed a participation agreement with Bangladesh Bank in the Tk10,000 crore export support pre-financing fund formed by Bangladesh Bank, said a press release. 

The participation agreement was signed on behalf of Bangladesh Bank by Maksuda Begum, director of the Banking Regulations and Policy Department and Syed Rois Uddin, managing director (current charge) of National Bank Limited on Monday, (30 January). 

Bangladesh Bank Governor Abdur Rouf Talukder said that due to the adverse situation in the world economy due to the economic shock after the Covid-19 or Corona epidemic and the situation arising from the Russia-Ukraine war, the export-oriented industries of the country should bear more shocks and the ongoing trend of development and expansion of this sector.

An export support pre-financing fund of Tk10,000 crore has been set up fully funded by Bangladesh Bank to continue.

Direct and indirect exporters will have the opportunity to take loans in local currency against the purchase or import of raw materials at only 4% interest from this fund, which will be for a period of 180 days. The bank-level interest rate will be 1.5%.