ONE Bank PLC has signed a participation agreement with Bangladesh Bank under Bangladesh Bank’s Tk5,000 crore working capital refinance fund.
The initiative aims to disburse low-interest, soft-term working capital loans to the cottage, micro, small and medium enterprises (CMSME) and strengthen the sector.
The agreement was signed at Bangladesh Bank’s head office recently.
In presence of Md Anis Ur Rahman, deputy governor, Bangladesh Bank, the agreement was signed by Md Zabdul Islam, director, SME & Special Programs Department, Bangladesh Bank, and Kazi Ziaul Islam, deputy managing director and head of financial services and public sector, ONE Bank PLC, on behalf of their respective organizations.
The ceremony was also attended by Nahid Rahman, executive director; Shahahnaj Pervin, additional director, Bangladesh Bank, and Newaz Khalid Ahmed, senior executive vice president & head of commercial and SME business, ONE Bank PLC.
This working capital refinancing scheme is under Bangladesh Bank's Tk60,000 crore stimulus framework, and expected to facilitate shortfall under the CMSME business segment with better access to finance and lower rate of interest.
Through this refinancing scheme, ONE Bank will further strengthen its financing portfolio and will ensure support to the growth of CMSME in Bangladesh.
The scheme is designed to boost production capacity, create jobs and accelerate economic growth.
