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The Financial Express

2,200 garment factories seek Tk 31.5 billion coronavirus bailout to pay workers

Published: May 05, 2020 10:17:29 | Updated: May 06, 2020 14:30:47


Bangladeshi garment workers make protective suit at a factory amid concerns over the spread of the coronavirus disease (COVID-19) in Dhaka, Bangladesh on March 31, 2020 — Reuters/Files Bangladeshi garment workers make protective suit at a factory amid concerns over the spread of the coronavirus disease (COVID-19) in Dhaka, Bangladesh on March 31, 2020 — Reuters/Files

Around 2,200 clothing factories have applied for bank credits worth nearly Tk 31.5 billion from the government’s coronavirus bailout funds to pay workers.

They sought the loans with 2 per cent service charge through 46 banks before the deadline ended on March 2, Bangladesh Bank spokesman Serajul Islam said on Monday, reports bdnews24.    

The factories have been provided with a total of Tk 20 billion while the rest will be cleared soon, he said.  

Mohammad Abdur Razzak, the secretary to the garment exporters’ lobbying group BGMEA, said as many as 1,615 of its members applied for credit.

Knitwear manufacturers group BKMEA President AKM Salim Osman around 550 of its members sought loans from the fund.

Among the readymade garment factories in the Export Processing Zones, 35 have applied for loans.

Exim Bank submitted accounts of loans totalling Tk 5.4 billion sought by 122 factories. Southeast Bank said 150 factories asked for Tk 4.4 billion from it.

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