Padma Bank in Trouble: Fails to pay back BCTF’s overdue funds

The Bangladesh Climate Trust Fund (BCTF) has warned Padma Bank of legal action over its failure to pay back the fixed deposit receipt (FDR) worth Tk 29.1 crore upon maturity. The FDR had matured on May 25, and despite sending a letter to the troubled bank on May 20 of legal action if the amount […]

World Bank: Bangladesh to witness 3.6% GDP growth in FY22

The under-construction Padma Bridge on the mighty Padma River Syed Zakir Hossain/Dhaka Tribune Government had set 7.2% growth in national budget, while 8th 5YP targets 7.7% Bangladesh’s gross domestic product (GDP) is set to grow 3.6% in the fiscal year 2021-22 instead of 1.6%, the World Bank said on Wednesday. The global lender also said […]

Bangladesh Bank lowers farm loan interest rate ceiling to 8pc

Bangladesh Bank lowers farm loan interest rate ceiling to 8pc

A file photo shows a farmer threshing paddy on the outskirts of Dhaka. The Bangladesh Bank on Thursday reduced the ceiling on agriculture loan interest rate by one percentage points to 8 per cent to support farmers to offset the Covid-induced economic shocks. — New Age photo The Bangladesh Bank on Thursday reduced the ceiling […]

Investor group calls for banks to set tougher climate targets

Smog is seen near transmission towers in Bedzin, near Katowice, Poland, December 5, 2018. REUTERS

The group, which includes Pimco, the world’s biggest bond investor, and Britain’s biggest asset manager, Legal & General Investment Management, said they wanted lenders to set ‘enhanced’ pledges to decarbonise their lending books. While a number of the world’s biggest banks have already said they have an ‘ambition’ to reach net zero greenhouse gas emissions […]

Farmers in dispute with pitkala over threat to remove bank guarantee

Farmers in dispute with pitkala over threat to remove bank guarantee

The pitkala middlemen who find buyers for farmers’ produce, have refused to turn up at the central vegetable market this week in protest at a government consultation process to improve the Pitkalija’s operations. Only four of the 17 licensed middlemen turned up at the Pitkalija, accusing the government of wanting to increase the bank guarantee […]

World Bank confirms key elements of new climate action plan

The World Bank on Friday announced a new Climate Change Action Plan aimed at helping developing countries achieve measurable reductions in greenhouse gas emissions and pledging to mobilize large-scale resources to aid the transition out of coal. World Bank President David Malpass said key elements of the plan had been presented to the bank’s board […]