Page 13 - Export Development Fund News Today

The Export Development Fund, formed to help exporters with foreign currency on relaxed conditions, has dropped by $1 billion to $6 billion, a development that may ease pressure on forex reserves.

The Multilateral Investment Guarantee Agency (Miga), a wing of the World Bank Group, has offered to guarantee $500 million to $1 billion in foreign loans to ease imports of essentials and improve food security in Bangladesh at a time of rising commodity prices and dollar crisis. Miga, the political risk insurance arm of the World Bank Group, has also expressed willingness to

Bangladesh last year saw passage of the Trade Organisation Bill 2022, the Export Policy 2021-24 becoming effective, creation of a digital database of workers, introduction...

Local textile millers yesterday expressed concern that they would lose business if letters of credit (LCs) were settled in taka, the local currency, instead of the US dollar. 

The authorities are now considering a refinancing scheme in local currency for exporters

ISLAMABAD: Expo­rters on Thursday asked the federal government to allow a subsidised power tariff of Rs19.99 and an...

Parliament of Malawi has instituted an inquiry to investigate Alliance Capital Limited, a company in which people invested and lost billions of Kwachas.

The 9% lending rate cap on corporate and industrial loans will not be lifted, the central bank said on Monday at a meeting with the country's leading business owners. Traders sought dollar support from the reserve for their import payment at the meeting, but the Bangladesh Bank high-ups did not provide any assurance on the request.

Textile millers yesterday urged all concerned to avoid disseminating any wrong information about the Export Development Fund (EDF) of Bangladesh Bank as the soft loans it provides have helped the sector grow a lot.

Major global rating agency Moody's has placed Bangladesh's long-held credit rating of Ba3 on review for downgrade, in a development that stands to make the country's foreign transactions and lending tougher.