Loan for jute industry
12/08/2009
The Bangladeshi government has given a loan of almost $30 million to the Bangladesh Jute Mills Corporation (BJMC) to enable it to buy raw jute for 17 nationalised jute mills in the current jute season.
The loan is part of a two-year programme to help the nationalised mills to compete with those in the private sector.
Sources in Bangladesh have reported that there have been adequate levels of rainfall across the country in recent weeks and that the process of purchasing the fibre from farmers would start in mid-August. The government has indicated that it is optimistic about demand for jute in the global market and that it will be able to sell fabric for a good price.
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