Bangladesh Bank (BB) has raised the loan limit for the members of BGMEA and BTMA Export Development Fund (EDF) scheme.
“It has now been decided to enhance the limit of US$ 20 million to $25 million for member mills of BGMEA and BTMA,” said a notification by the central bank on Monday.
BB took the move to help boost the inflow of foreign exchange in the textile market.
“We’ve enhanced the limit for the members of BGMEA and BTMA to facilitate the overall export earnings in the coming months,” a BB senior official told the FE.
Prior to the new decision, an authorised dealer (AD) bank may borrow maximum $20 million from the BB’s EDF against their foreign currency financing of input procurement for member mills of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Textile Mills Association (BTMA).
