Prime Bank PLC has signed a participation agreement with Bangladesh Bank to join its Tk5,000 crore Working Capital Refinance Fund for the CMSME sector, aimed at providing working capital financing to eligible CMSME enterprises at affordable interest rates and on easier terms.
The agreement was signed recently at the AN Hamidullah Conference Room at Bangladesh Bank head office.
Md Jabdul Islam, director, SME & Special Programs Department, Bangladesh Bank and M Nazeem A Choudhury, additional managing director, Prime Bank PLC, signed the agreement on behalf of their respective organizations.
Md Anisur Rahman, deputy governor of Bangladesh Bank, attended the signing ceremony as chief guest.
Nahid Rahman, executive director, and Shahanaj Parveen, additional director, Bangladesh Bank, were also present at the event.
The refinance fund has been established under Bangladesh Bank’s Tk60,000 crore stimulus package to provide necessary working capital loans/investment to CMSMEs, enabling them to operate their production, service and business activities at full capacity.
The initiative also aims to create direct and indirect employment opportunities and contribute to revitalizing economic activity in the country.
Under the scheme, eligible operational CMSME enterprises that are unable to run their production, service or business activities at full capacity due to a shortage of working capital will have access to financing at an interest rate of up to 9%.
Prime Bank has been supporting the growth of the CMSME sector through financing and tailored solutions for entrepreneurs.
By participating in the refinance fund, the bank aims to further expand access to affordable working capital financing for CMSME businesses, helping them strengthen operations, enhance production capacity, sustain business growth and contribute to employment generation.