Biman gets loan of Tk 1000 crore to recover losses

Dhaka, Bangladesh || Wednesday, 24 April 2024 || 11 Boishakh 1431

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Biman gets loan of Tk 1000 crore to recover losses

Published : Friday, 1 May, 2020 at 6:10 PM, Count : 914

Biman gets loan of Tk 1000 crore to recover losses

Sonali Bank Limited has given a loan of Tk 1,000 crore to Biman Bangladesh Airlines under the incentive announced by the Prime Minister Sheikh Hasina to deal with financial loss due to coronavirus, said the state-owned bank on Friday, saying that “the loan has been granted as working capital.”

According to Sonali Bank, the bank has given a loan of Tk 1,000 crore as working capital to Biman Bangladesh Airlines under the financial incentives announced by the Prime Minister.

Besides, the applications for financial incentives in various industries, agriculture, trade and commerce have been verified and sent to the Central Bank for approval, the state-owned bank also said.

Earlier on April 5, Prime Minister Sheikh Hasina announced various packages to deal with possible economic losses in the country due to the outbreak of coronavirus.

These include a Tk 30,000 crore loan facility (package-1) for the affected industries and services sector, and provision of working capital facilities to small and medium enterprises (package-2).

In addition, Bangladesh Bank will launch a new fund of Tk 5,000 crore titled ‘Extension of Export Development Fund (EDF) (Package-3)’ and ‘Pre-Shipment Credit Refinance Scheme’ where loans will be provided at 7% interest (Package-4).

Besides, entrepreneurs will be able to take loans at 9 percent interest under package-1 through banks, however, they have to pay 4.5 percent interest, the rest of the 4.5 percent interest will be subsidized by the government.

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