Bangladesh plans to reduce lending rates

Bangladesh's Commerce Minister, Khandaker Abdul Muktadir, announced significant government plans to address key challenges faced by the country's industrial sector, particularly textiles and garments. The government intends to reduce double-digit bank lending rates, which currently range between 13% and 14%, to make them more investment-friendly. Additionally, Bangladesh plans to increase LNG imports and tender for new floating storage and regasification units (FSRUs) to mitigate a significant gas supply deficit. In the long term, Bangladesh is prioritizing renewable energy, aiming to generate 10,000 MW of solar power. The government is also working to simplify business licensing procedures, which currently involve obtaining 25-26 licenses over months or years, by introducing provisional clearances. Efforts are also underway by the Bangladesh — National Board of Revenue to streamline bond and tax-related procedures. These announcements were made at the Bangladesh International Textile, Knitting and Garment Industry Exhibition (BTKG Expo 2026), co-organized by the Bangladesh Knitwear Manufacturers and Exporters Association and Inforchain Digital Technology Co. Ltd., showcasing innovations from 900 exhibitors across 28 countries.