B’desh announces stimulus package

Dhaka: Bangladesh on Sunday announced a stimulus package of 727 billion taka ($8 billion) to help cushion the economic blow from the COVID-19 pandemic.

Prime Minister Sheikh Hasina made the announcement of the support package in a televised speech in capital Dhaka, reports Xinhua news agency.

In her speech, Hasina said COVID-19 escalation could cut the country’s economic growth.

To better manage the impact caused by the COVID-19, she said the government will extend such funds in future.

According to the Prime Minister, the country’s remittance income, capital market and low-income groups already felt the pinch of COVID-19.

Low-cost loans for businesses including small and medium enterprises will be made available, she added.

Bangladesh on Saturday extended the ongoing shutdown of public transport to April 11 to manage the spread of the virus.

Bangladesh had earlier declared a 10-day public transport shutdown effective from March 26 to April 4.