Bangladesh Bank has extended policy supports by three months up to June 30 from March 31 this year to facilitate the country’s export trade amid the ongoing COVID-19 pandemic.
‘Bangladesh Bank has decided to continue its policy supports till June 30 instead of March 31 mainly due to the ongoing COVID-19 pandemic,’ said a BB circular issued on Sunday.
Under the policy supports, time for repatriation of export proceeding will be extended to 210 days instead of 120 earlier from the date of shipment.
As per the circular, back to back letters of credit opened under suppliers or buyer’s credit will be extendable up to 180 days more within permissible rate of interest.
Loan from Export Development Fund is extendable till additional 180 days instead of 90 days.
Refinancing from EDF up to 180 days is allowed on justifiable grounds required for settlement of import payments against back to back LCs opened under supplier’s or buyer’s credit.
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