Bangladesh announces stimulus package to counter COVID-19 impact

Bangladesh has announced a stimulus package of 50 billion taka ($5.9 million) to help export-oriented industries to counter the economic impact of the coronavirus pandemic ar home and abroad.

Prime Minister Sheikh Hasina made the announcement in a televised address to the nation on Wednesday night on the eve of the country's Independence Day, programs to celebrate the day have already been cancelled, reports Xinhua news agency reported.

She said this fund can be used for paying wages and allowances to the readymade garment workers and employees.

"Our exports can suffer a blow due to COVID-19 outbreak. So we've taken some emergency measures to support the export-oriented industries," said Hasina.

Apart from this, she said the central bank of Bangladesh would take business-friendly initiatives so that no one is considered a loan defaulter till June.

In her speech, Hasina also laid out several other measures to tackle the COVID-19's spread in the country.

Bangladesh on Wednesday announced the country's fifth death related to COVID-19.

The victim was one of the 39 cases reported in the country till date.

The Bangladeshi government has also declared a public holiday starting from Thursday to April 4 except for entities providing essential services.