From now, the EDF interest rate would be the six-month dollar Libor plus 1.5 percent, Bangladesh Bank said in a notice on Tuesday. The Libor or the London interbank offered rate is what the banks charge each other for short-term loans in the London Interbank Market. It serves as a global benchmark for the banks for short-term interest rates. The latest interest rate on EDF will remain effective until June 30, according to the circular. Members of Bangladesh Garment Manufacturers and Exporters Association and Bangladesh Textile Mills Association can take loans up to $25 million.

Source: bd News24 November 19, 2019 10:18 UTC