BB extends jute exporters’ loan rescheduling till Dec 31

Bangladesh Bank (BB) has extended its loan rescheduling facility for raw jute exporters until December 31 this year, allowing them to restructure loans for the next two years with a 2 percent down payment based on their outstanding loans as of December 31 last year.

The central bank issued a circular on Monday, stating that the move comes in response to difficulties faced by exporters in meeting the requirements of earlier measures aimed at addressing challenges within the raw jute export sector.

The new directive takes immediate effect and has been issued under the authority of Section 45 of the Bank Company Act, 1991.

Previously, the central bank had issued a circular on March 31, last year requiring raw jute exporters to submit applications for loan rescheduling within six months of that notice.