As a partner bank, Bank Asia signed an agreement with SME Foundation to receive revolving funds under the stimulus package for distribution among SME entrepreneurs.
President and Managing Director of Bank Asia Md Arfan Ali and Managing Director of SME Foundation Md Mafizur Rahman signed the agreement from their respective sides in a signing ceremony at a hotel in the capital city on Wednesday, reads a press release.
Secretary of Financial Institutions Division (FID) of the Ministry of Finance Sheikh Mohammad Salim Ullah, Chairman of the SME Foundation Dr Md Masudur Rahman and senior officials from other partner banks and NBFIs were present at the event.
Under the agreement, Bank Asia will disburse the allotted fund at 4% interest to SME entrepreneurs across the country’s rural and marginal population to accelerate economic recovery from the Covid fallout and to improve the rural living standard.
