The Bangladeshi Finance Minister said on Sunday that the Bangladeshi government will introduce a package rescue plan for leather export companies within this month to help them cope with the financial crisis. These measures will include cash compensation for enterprises’ export losses caused by the financial crisis, lowering bank interest rates, extending the bank’s 2-year loan period, and compensating leather enterprises for the cost of relocating to the Savar Leather Industry Zone. Among them, the cost compensation for the relocation of leather companies to the Savar Leather Industry Zone is about 2.5 billion taka (about 36.8 million US dollars).
After the financial crisis, export volumes of Bangladeshi leather export companies dropped by more than 60% in just a few months, and prices dropped by about 50%.
