Bangladesh Bank (BB) and Mercantile Bank PLC have signed an agreement to provide low-interest loans to entrepreneurs operating under cluster-based initiatives, as part of efforts to expand access to finance for small businesses.
The agreement was signed recently by Nowshad Mostafa, Director of the SME and Special Programmes Department (SMESPD) of Bangladesh Bank, and Dr Md Zahid Hossain, Deputy Managing Director and Chief Business Officer (CBO) of Mercantile Bank PLC, on behalf of their respective organisations, the bank said in a press release.
The signing ceremony was attended by Bangladesh Bank Deputy Governor Nurun Nahar and Mohammad Nizamul Hoque, Senior Vice-President and Head of the SME Financing Division at Mercantile Bank PLC.
Executives and senior officials from Bangladesh Bank and Mercantile Bank also attended the programme.
