Foreign Exchange Policy Department
FE Circular No. 15 Date: December 15, 2013
All Authorized Dealers of Foreign Exchange in Bangladesh
Interest rate on borrowing from Export Development Fund (EDF)
Please refer to paragraph 2 of FE Circular No. 25, dated December 22, 2009 in terms of which interest on EDF loan disbursements to Authorized Dealers (ADs) in USD is charged interest by Bangladesh Bank at six-month USD LIBOR + 1%, with the ADs charging at six month LIBOR + 2.50% on their USD loan disbursements to manufacturer
02. It has now been decided that to help exporters overcome hardships from the ongoing disruptions in normal shipment activities, interest rates on EDF loans to ADs will be charged by Bangladesh Bank at six-month USD LIBOR + 0.50%, while ADs will charge interest on the exporter-borrowers at six-month LIBOR + 1.50%; for disbursements over the next six months from the date of this circular.
Please bring the content of this circular to the notice of all concerned.
(Md. Abdul Mannan)
Deputy General Manager