Sunday 22 October 2017 ,
Sunday 22 October 2017 ,
Latest News
  • Malaysian landslide kills 3, Bangladeshis among 11 trapped
  • Rohingya kids at risk of exploitation, abuse: Schmidt
  • End all activities at TSC by 8pm: DU
  • 39 Bangladeshis detained in Malaysia
  • 53 killed in Egyptian desert shoot out
23 September, 2017 09:25:27 AM
Print

BB trying to expand green finance in country

Independent Online/BBS

Through continuous monitoring and taking appropriate actions, Bangladesh Bank (BB) is trying to expand green finance in the country, reports BSS. “Through different recent circulars, BB has increased the green product line to 52 and cut the interest rate of its own re-financing scheme,” BB’s Sustainable Finance Department General Manager Manoj Kumar Biswas told the news agency. According to the BB’s latest data, the green banking activities of banks and financial institutions (FIs) have witnessed upward trend as the total volume of green finance has increased by 17.86 per cent or Tk 2, 423.18 crore at the end of the April-June quarter compared to the previous January-March quarter of the year.


 
Despite the increase in the total green finance, the direct green finance has declined by 28.94 per cent or Tk 351.59 crore in the last quarter compared to the previous one.

Manoj Kumar Biswas said BB has also kept a provision to take permission of green products, out of the eligible 52 products, by submitting necessary documents.

Thus, he said, BB is trying to make flexible all procedures of green investment and hoped that the green banking activities will expand further in future.

For providing BB’s special focus on environment friendly green banking, National Credit and Commerce (NCC) Bank Chairman M Nurun Newaz said green investment is moving fast as banks and FIs have showed interest in financing the eco-friendly industries, businesses and other projects.

Mentioning the green industrialisation as one of the priority areas of Prime Minister Sheikh Hasina, he said the growth of green investment through NCC bank is increasing day by day.

According to statistics, NCC Bank has disbursed Tk 749 crore in the first six months of the year which was Tk 835 crore in 2016.

To broaden the financing avenue for green products like solar energy, bio-gas plant and effluent treatment plant, BB established a revolving refinance scheme amounting to Tk 200 crore from its own fund in 2009.

The outstanding amount of the scheme was Tk 333 crore till August 2017 while the recovery was Tk 205 crore and total outstanding principle amount was Tk 128 crore.

A total of 37 banks and 22 FIs have so far signed participation agreements to provide loans.

As per the recent master circular, banks can charge 8 per cent interest on five-year loans of the scheme, 8.5 per cent in the case of five to eight year period and 9 per cent for above eight years.

If the bank provides the loan through agents or outsourcing or Micro Finance Institution (MFI), the interest rate will be 9, 9.5 and 10 per cent respectively, the circular said.

But the interest rate will be 7 per cent when it comes to the financing for the solar irrigation pumping system, the circular added.

But BB takes only 5 per cent interest from the banks and FIs.

NS

Comments

Poll
Today's Question »
BNP leader Amir Khasru Mahmud Chowdhury says the government has become 'friendless' over the Rohingya issue due to its 'wrong policy' and diplomatic 'failure'. Do you agree?
 Yes
 No
 No Comment
Yes 85.7%
No 9.5%
No Comment 4.8%
Video
More Business Stories
Robi offers iPhopne 8, 8 Plus Mobile phone operator Robi is going to offer Apple's latest iPhone 8 and iPhone 8 Plus from November 2.  Customers will be able to pre-order iPhone 8 and iPhone 8 Plus from October 27 at www.robi.com.bd, Robi Sheba and Airtel…

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting