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BB issues master circular to set interest rate for green products
The Bangladesh Bank has issued a master circular on rules and regulations of the Refinancing Scheme for Environment-friendly products and initiative.
As per the circular dated March 16, entrepreneurs will get bank loan at lower interest rate for some 51 environment-friendly products and initiatives in 8 sectors under a Tk 200 crore re-financing scheme, launched by the Bangladesh Bank in 2009.
As per the new master circular, bank will charge maximum 8-9 percent interest on the loan to be provided to the entrepreneurs for the investment for 51 products and initiatives in 8 sectors.
In this case the interest rate will be calculated as bank rate plus 3-4 percent. But the interest structure will be bank rate plus 2 percent when it comes to the financing for the solar irrigation pumping system, said the master circular of the central bank.
It said the government has set the solar irrigation pumping system as a priority sector to replace the conventional diesel and electricity-run pumps in compliance with the government’s agriculture priority policy.