As per Bangladesh Bank’s guidance, the industries that export four-fifths of their total production are considered export-oriented industries and will get separate loans.
The amount of the loan will not be more than the average wages and allowances of the last three months of the recipient factories. The prevailing market rate of interest will be applied.
The factories that have paid staff wages from May 2023 to July 2024 will be considered active factories and will be verified through certificates from the respective trade associations.
The total debt of the factories, including this loan, to pay the wages of the workers should be within the single loan limit.
Banks can recover this loan in equal installments within a year, with a grace period of three months in the form of a term loan, according to domestic media reports.
Trade bodies had earlier requested Bangladesh Bank governor Ahsan H Mansur for such a loan.
ALCHEMPro News Desk (DS)
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