BB lifts credit limit for companies generating electricity

Staff Reporter :
Bangladesh Bank (BB) has lifted the general credit limit for power generating companies.
As a result, banks will be able to give loans to individuals, organisations and groups involved in electricity generation companies as much as they like.
The central bank issued a circular on Thursday relaxing this limit till December 31 this year, reports UNB.
The Banking Regulations and Policy Department of the Central Bank issued the circular and sent it to the Managing Directors and Chief Executive Officers of all banks.
In order to maintain the uninterrupted supply of money required for power generation, to import fuel oil and other raw materials in the power sector, any person, organisation or group generating power, can borrow any amount from banks, the circular stated.
On November 8 last year, the central bank in a directive withdrawn the lending limit for coal-based power plants aiming to increase power generation.