Bangladesh’s central bank, the Bangladesh Bank (BB), is forming a fund of Taka 1,000 crore so as to facilitate loans to help the export-oriented industries to upgrade their current technologies. Thirty-two industries, including the apparel manufacturing units making high-value additions in production, leather goods and footwear, are reportedly eligible to avail this loan as top-priority and special development sectors. As per reports, the fund – interest rate of the loan will reportedly range between 5 per cent and 6 per cent – will help make the export-oriented industries more vibrant in keeping with the global trends, and as part of the same 11 types of existing industrial production-related operations can be transformed by replacing outdated technologies with the latest ones to help industrial production gain momentum. Further, adoption of technology for renewable energy, replacement of outdated machinery, upgradation of machinery used in business operations and waste management will reportedly get priority under the same. The fund will reportedly run under a refinancing scheme, which effectively means that the banks would first give out the loans before being reimbursed by the BB.
