Bangladesh PM announces total 18 stimulus packages worth Taka 1,01,117 crore till 14 May 2020 to offset COVID-19

File Photo of PM Sheikh Hasina


Prime Minister Sheikh Hasina so far announced a total of 18 stimulus packages worth around $11.90 billion or Taka 1,01,117 crore to offset the shock of novel coronavirus (COVID-19) pandemic on various sectors of the country.


With the latest and 18th stimulus package of Taka 2,000 crore for the programme for generating employments through Palli Sanchay Bank, Karmasangsthan Bank, Probashi Kalyan Bank and PKSF, the overall announced stimulus packages worth around $11.90 billion also equaled to 3.6 percent of GDP.


Out of these 18 stimulus packages, the premier earlier had announced the highest stimulus package of Taka 30,000 crore for providing working capital facility to the affected industries and services sector organizations followed by Taka 20,000 crore stimulus package for providing working capital to the small (including cottage industries) and medium industrial enterprises.-


The other stimulus packages announced by Prime Minister Sheikh Hasina are special fund for the export-oriented industries with Taka 5,000 crore, expanding the facilities of Export Development Fund (EDF) introduced by Bangladesh Bank with Taka 12,750 crore, Pre-Shipment Credit Refinance Scheme with Taka 5,000 crore, special honorarium for the doctors, nurses and health workers with Taka 100 crore, health insurance and life insurance with Taka 750 crore and free distribution of food materials with Taka 2,503 crore.


The other stimulus packages announced so far by the premier are agriculture subsidy with Taka 9,500 crore, agriculture refinancing scheme with Taka 5,000 crore, refinancing scheme for the low-income professional farmers and small businessmen with Taka 3,000 crore, selling rice at Taka 10 per kilogram with Taka 251 crore, distributing cash among the target-based communities with Taka 1,258 crore, expanding the coverage of allowance programme with Taka 815 crore, building houses for the homeless people with Taka 2,130 crore, Boro rice/paddy purchase operation (additional 2 lakh metric tons) with Taka 860 crore, and mechanization of agriculture works with Taka 200 crore.



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