The Bangladesh Bank has disbursed Tk 886 crore to facilitate the payment of two months' (August and September) salaries and allowances for garment sector workers. This action was taken in response to a request from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and was channeled through EXIM Bank and Social Islami Bank (SIBL).
A press release issued by the BGMEA provided these details.
It has been reported that five financially distressed banks, grappling with severe liquidity crises, were unable to settle export proceeds for garment factories on time. As a result, these factories struggled to pay their workers, severely disrupting regular operations in the industry.
In response to this situation, the BGMEA met with Bangladesh Bank Governor Dr. Ahsan H. Mansur on August 26 at the Bangladesh Bank headquarters to address the financial impasse affecting garment exporters. Following this meeting, the Bangladesh Bank announced the release of Tk 886 crore to resolve the crisis.
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