The interest rate of incentive packages offered earlier was estimated at 9 per cent. Up to 7 per cent of this was given as subsidy by the government.
Bangladesh Bank issued a notification yesterday for low interest loans for hotels and theme parks in the tourism sector. Prime Minister Sheikh Hasina announced the 4 per cent interest loan last Tuesday.
The notification said hotel-motel owners can avail the loan from the bank at 4 per cent interest as current capital. 1,000 crore rupees have been allocated for this purpose. And Bangladesh Bank will provide refinancing facility of Rs 500 crore. Hotel-motel owners will get this low interest loan facility for one year. Customers who have taken incentive loans earlier will not get this loan afresh. This loan money can be used only to pay salaries. The government will provide subsidy only if the customer pays the interest amount after taking the loan. Loans can be applied only through banks through which customers currently transact.