Leather industries to get loan under BB`s low interest scheme

Leather industries will also get low-interest loan facilities under the Bangladesh Bank’s refinance scheme for renewable energy and environment-friendly industries, reports UNB.

Under this scheme, some 47 products in 9 industrial sectors are receiving the facilities.

A circular of Bangladesh Bank, issued by Sustainable Finance Department on September 10, said from now on members of Bangladesh Finished Leather, Leather Goods and Footwear Exporters’ Association (BFLLFEA), who have their own factories, will be eligible to avail the loan facilities under the refinancing scheme for creating safe working atmosphere.

The financing could be utilised for procurement of fire extinguishing equipment, fire protection system, water tank construction, rooftop and underground water pump installation and also for renovation, reform and reconstruction purpose, said the central bank circular.

It mentioned that this will be deemed as included in the agreements signed between Bangladesh Bank and participating financial institution and also effective for Sharia-based banks and financial institution.