Bangladesh: Eid loans lower than hoped
Tanners in Bangladesh have expressed their disappointment at the reduced levels of loans the banks are prepared to offer as capital aid to procure and preserve rawhides during the upcoming Eid-al-Adha festival.
It is understood from local media that tanners had requested TK5 billion (USD$ 46 million) but banks had only committed to approximately half of that, with TK2.56 billion (USD$ 24 million) with reservations as many of the previous loans had already defaulted. The loan amount for this year, determined by the Bangladesh Bank, is down by TK1.84 billion (USD$17 million).
Chairman of Bangladesh Tanners Association (BTA), Shaheen Ahmed told local media: "Hide is a perishable product, which needs to be collected and preserved quickly. Seasonal traders collect huge amounts of rawhides from different parts of the country during Eid, a process which requires a lot of effort and money."
