News Desk: Export Development Fund (EDF) size increased again from 500 billion due to rising demand The central bank has made  550 billion. In other words, another  500 billion has been added to this fund. In domestic currency, the total size of the fund stood at Tk 46,750 crore.

Earlier, in October last year, the interest rate on loans from the EDF was reduced by 25 percent. Since then, exporters have been getting loans from the fund at 1.75 percent interest. The central bank is coming up with this facility to increase the competitiveness of coroner-infested exporters in the global market.

The Export Development Fund (EDF) was formed in 1989 to provide low interest loans in foreign currency to continue the ongoing trend of development and expansion of export oriented industries.The journey of this fund started with only 38 lakh 72 thousand dollars. Last Thursday, Bangladesh Bank raised it to 550 billion.

According to the central bank, the number of exporters who have taken loans from the EDF is currently 1,670.

The total debt is 492 crore 10 lakh dollars. Entrepreneurs from export oriented sectors including BGMEA, BTMA, BKMEA, dyeing yarn, packaging, leather industry, plastics industry got loans.