DHAKA: The central bank of the country Bangladesh Bank (BB) will provide loan on easy terms for housing to the readymade garment (RMG) workers.

Bangladesh Garment Manufactures & Exporters Association (BGMEA) and the garment owners will receive the loan and will be responsible in distributing them among the workers.

A Memorandum of Understanding (MoU) was signed between Bangladesh Bank and BGMEA in this regard at the central bank in city on Tuesday.

BB executive director M Mahfuzur Rahman and BGMEA vice-president (finance) Riaz Bin Mohammad signed the agreement.

Finance Minister AMA Muhith was also present in the program.

According to the MoU, Bangladesh Bank will provide loan to the garment owners on two percent interest rate which will be distributed by them to the workers.

If the workers will be unable to return the loan then the garment owners will be responsible for that, if they fail then BGMEA will be responsible to repay the loan.

Muhith said that there was no significant change in housing sector in the country after the liberation. Though there were some changes in city but hardly any change in the rural areas, he added.

The minister hoped that some two-lakh people will be benefited and get accommodation facilities by this loan offering.

Assuring the grant-in-aid the finance minister said that there is no problem with the asking donation of Tk 200-crore from the government. It will be availed soon, he added.

Central bank governor Dr Atiur Rahman said that there is no organizational arrangement in housing sector for the poor and lower income people in the country especially for the RMG workers.

This joint initiative with BGMEA will ensure housing facilities for the RMG workers, he added.

Dr Atiur Rahman said that BGMEA will select the debtors and issue guarantee on behalf of them. If the debtors fail to return the amount, the BGMEA will repay that.

High officials of Bangladesh Bank and BGMEA were also present in the program.

BDST: 2126 HRS, NOV 11, 2014