BB extends loan moratorium for shipbuilders

Staff Correspondent: Bangladesh Bank (BB) has extended the relaxed loan repayment facility for shipbuilders to help the industry tackle adversities derived from the ongoing Covid-19 pandemic.
“Shipbuilders will get another two-year moratorium to pay back bank loans,” as per a BB circular issuedyesterday.
The central bank issued the circular as per instructions from the finance ministry.
In April 2018, the central bank relaxed the loan repayment facility for the shipbuilding industry, allowing them to pay the loans spanning 10 years with a grace period of three years.
On top of that, they had managed an exemption of providing any down payment to reschedule bad loans.
The three-year moratorium was supposed to end in 2020.
However, the central bank has now extended the moratorium period by another two years, given that they paid 5 per cent of their total loan instalments payable last year.