Bangladesh expatriates who return home to get Tk 200cr loans
Published : Sunday, 12 July, 2020 at 6:40 PM Count : 274
A memorandum of understanding (MoU) was signed on Sunday to provide Tk 200 crore loans to those expatriate workers who have returned to the country losing their jobs abroad.
The Probashi Kallyan Bank and the Wage Earners Welfare Board signed the MoU at the conference room of the Ministry of Expatriate Welfare and Overseas Employment Generation on Sunday.
The expatriate workers who lost their jobs due to the virus will be given loans on easy terms.
Probashi Kallyan Bank managing director Mahtab Jabin and Wage Earners Welfare Board director general Md Hamidur Rahman signed the MoU on behalf of their respective organisations.
"The government has already approved an allocation of Tk 500 crore in favor of Probashi Kallyan Bank to provide easy loans to expats who have lost their jobs due to the virus or for any other reason".
"The government has set up a fund of Tk 200 crore from the Wage Earners Welfare Board to provide low interest and easy term loans to the workers returning from abroad due to coronavirus, and to eligible family members of deceased workers over Covid-19."
"These loans will be distributed through Probashi Kallyan Bank. Policies over this have already been formulated."
"Only 22,000 expatriate workers have returned home so far. The number of the returnees is still low as the government took timely diplomatic initiatives.
In addition, an initiative has been taken to set up a 'Covid-19 Response and Recovery Fund' for expatriates to retain jobs abroad, join new professions, be employed in agriculture and develop as entrepreneurs. The fund would be similar to the Climate Trust Fund and the Climate Resilience Fund.