Seventeen banks have signed agreements to provide Tk 410 billion (Tk 41,000 crore) as part of the Bangladesh Bank's Tk 600 billion (Tk 60,000 crore) incentive package aimed at reopening closed factories and reviving the country's sluggish economy.
The participating banks are Sonali, Agrani, Rupali, BRAC, City, Jamuna, Dutch-Bangla, Mutual Trust, Uttara, Prime, Bank Asia, NCC, Pubali, Eastern, Mercantile, Trust, and Southeast Bank.
Bangladesh Bank announced the Tk 600 billion package on May 23, targeting long-closed industrial units, increased private-sector investment and economic recovery.
At the time, Bangladesh Bank Governor Mostaqur Rahman described the initiative as a “production and employment recovery” programme, with an expected potential to create around 2.5 million jobs.
Of the total Tk 600 billion, Tk 410 billion will come from commercial banks, while Bangladesh Bank will provide the remaining Tk 190 billion from its own funds.
The largest allocation—Tk 200 billion—has been earmarked for reopening industrial facilities that have remained closed for a long period. Private-sector entrepreneurs will be able to access loans from this fund at an average interest rate of 7.5%.
