The central bank is providing loan assistance of 3 thousand crore rupees to the government organization Investment Corporation of Bangladesh (ICB) for investment to bring stability to the capital market. Which will be guaranteed by the government.
On Wednesday (November 13), a letter in this regard was given to the Governor of the Central Bank from the Treasury and Debt Management Division of the Finance Department of the Ministry of Finance.
In a letter to the Governor, the Ministry of Finance said that the Investment Corporation of Bangladesh (ICB) will invest in the proposed loan to stabilize the capital market and increase its own financial capacity by repaying funds borrowed at high interest rates. Therefore, the Finance Department of the Ministry of Finance is giving an assurance that if the ICB is unable to pay the Tk 3,000 crore loan from Bangladesh Bank in favor of the Investment Corporation of Bangladesh (ICB) and the interest earned or charged on the loan or any part thereof (principal and interest) It will be paid in due course.
However, Bangladesh Bank shall not adjust the interest payable on unpaid or overdue loans or borrowings from the profits payable to the Government. This guarantee will be valid for 18 months from the date of issue.
