Bangladesh Bank has formed a Tk 2 billion fund to rev up the jute sector.
Other banks will take money from this fund with five percent interest and distribute the loan among jute farmers and exporters after adding some amounts.
But total interest must not exceed 10 percent under any circumstances, the central bank stated in a media statement.
The fund was put together under Bangladesh Bank’s refinancing scheme with a goal to rejuvenate the once flourishing jute sector.
Contracts will be signed at the central bank’s office in Motijheel on Monday with 16 banks that will enjoy the fund’s privileges, the statement added.
Source: bdnews24