BB announces Tk 60,000 crore stimulus package for private sector

Bangladesh Bank has announced a Tk 60,000 crore stimulus package to support the troubled private sector, boost investment, and revive the economy.

The package has two components: a Tk 41,000 crore refinancing fund, sourced from banks with excess liquidity through long-term deposits of at least three years at a 10 percent interest rate, and a Tk 19,000 crore fund drawn from Bangladesh Bank's own resources, subject to a government guarantee.

The central bank announced the package at a press conference held at its headquarters in Dhaka today.

Under the refinancing fund, the largest allocation — Tk 20,000 crore — has been earmarked for closed factories, followed by Tk 10,000 crore for agricultural and rural activities, Tk 5,000 crore for the cottage, micro, small, and medium enterprise (CMSME) sector, and Tk 3,000 crore each for export diversification and the North Bengal Agricultural Hub.

The central bank's own fund covers 10 targeted schemes, including pre-shipment credit refinancing, financing for cottage and micro entrepreneurs, overseas employment, and startups.

Bangladesh Bank said the package is expected to create more than 25 lakh direct and indirect jobs across different sectors. 

Borrowers will get the funds at 7 percent interest rate.