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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