Bangladesh Bank has completed agreements with 17 banks to provide Tk41,000 crore for its Tk60,000 crore incentive package aimed at reopening closed factories and restoring momentum to the stagnant economy. The package was announced on May 23 to restart shut industrial units, increase private-sector investment and revive economic activity.

The participating banks are Sonali, Agrani, Rupali, BRAC, City, Jamuna, Dutch-Bangla, Mutual Trust, Uttara, Prime, Bank Asia, NCC, Pubali, Eastern, Mercantile, Trust and Southeast Bank. Commercial banks will contribute Tk41,000 crore under the package, while Bangladesh Bank will provide the remaining Tk19,000 crore.

The largest allocation, Tk20,000 crore, has been reserved for restarting industrial factories that have remained closed for a long time. Private-sector borrowers will receive loans from this fund at an average interest rate of 7.5 percent.