BSS, Dhaka :
Bangladesh Bank (BB) eased the loan repayment for the owners of the cold storages in the country’s northern region, allowing them five to eight years for paying bank their outstanding loans.
The cold storage owners will get eight years for loan repayment who borrowed money from banks as a project loan, repayable in half-yearly installments. The repayment period will be five years for the owners of the cold storages who borrowed for working capital, BB said in a circular issued on Thursday.
“Considering the greater interest of the farmers of the northern region and cash strapped cold storages, all the banks will allow rescheduling of the outstanding loans on the basis of the bank-client relationship and the status and quality of the projects”, the circular said.
According to the circular, banks would also transfer the irregular credit to block account for a one-year moratorium period and the banks would waive the interests on amount in block account.
The board of directors will decide on easing the down payment in case of loan rescheduling or sanctioning fresh loan. The owners of the cold storages, who rescheduled their loans earlier, will also get the new loan rescheduling facilities. The affected cold storage owners should apply to their respective banks with necessary documents by March 29 for loan rescheduling.
Bangladesh Bank (BB) eased the loan repayment for the owners of the cold storages in the country’s northern region, allowing them five to eight years for paying bank their outstanding loans.
The cold storage owners will get eight years for loan repayment who borrowed money from banks as a project loan, repayable in half-yearly installments. The repayment period will be five years for the owners of the cold storages who borrowed for working capital, BB said in a circular issued on Thursday.
“Considering the greater interest of the farmers of the northern region and cash strapped cold storages, all the banks will allow rescheduling of the outstanding loans on the basis of the bank-client relationship and the status and quality of the projects”, the circular said.
According to the circular, banks would also transfer the irregular credit to block account for a one-year moratorium period and the banks would waive the interests on amount in block account.
The board of directors will decide on easing the down payment in case of loan rescheduling or sanctioning fresh loan. The owners of the cold storages, who rescheduled their loans earlier, will also get the new loan rescheduling facilities. The affected cold storage owners should apply to their respective banks with necessary documents by March 29 for loan rescheduling.
