Dhaka, June 5 -- In a major move to inject vitality into a sluggish economy and generate employment, Bangladesh Bank (BB) on Thursday night announced a Tk 20,000-crore pre-refinancing scheme aimed at fully reviving closed and partially operational industries.

Under this new policy, titled the "Pre-Refinancing Scheme for Assisting Closed Large-Scale Industry and Service Sectors," eligible business entities and corporate groups can secure working capital loans up to Tk 200 crore at a highly concessional interest rate of 7 percent.

The initiative offers massive relief to manufacturers, given that the market interest rate across commercial banks currently exceeds 14 percent following recent monetary tightening.

The central bank issued a co...