BB raises interest rate for loans from EDF

The Bangladesh Bank (BB) has raised the interest rate on loans made from its Export Development Fund (EDF) by 50 percentage points, reports BSS.

"It has been decided that interest rate on EDF loans to ADs will be charged by Bangladesh Bank at 3 percent pa, while ADs will charge interest to manufacturer-exporters at 4.50 percent pa, for disbursements until further instructions," as per a BB circular issued on Wednesday.

Other relevant instructions on EDF shall remain unchanged.