Bangladesh Bank has entered an agreement with BRAC Bank to provide crucial refinancing support for the country’s burgeoning start-up sector.
Under the agreement, BRAC Bank will gain access to a Tk 500 crore fund established by Bangladesh Bank. The initiative aims to simplify access to finance for start-ups, boosting the potential of emerging entrepreneurs and helping them contribute more significantly to the national economy.
The signing ceremony took place on September 2 at the central bank headquarters, with Governor Ahsan H Mansur joining virtually. The ceremony was attended by Bangladesh Bank Deputy Governor Nurun Nahar, Executive Director Husne Ara Shikha, and other senior officials.
BRAC Bank’s Additional Managing Director and Head of SME Banking Syed Abdul Momen and Bangladesh Bank’s Additional Director Muhammad Mustafizur Rahman exchanged the agreement documents.
The ceremony also saw participation from the managing directors and senior officials of 22 participating banks and financial institutions. The collaboration will be managed by Bangladesh Bank’s SME and Special Programmes Department.
This partnership will provide much-needed capital to start-ups, enabling innovators to scale their ventures, foster employment, and drive technological advancement. The move is expected to bolster Bangladesh’s start-up ecosystem, which has seen increasing international interest and is poised for sustainable growth.
Through this initiative, BRAC Bank reaffirms its dedication to supporting promising enterprises in Bangladesh. The bank expressed optimism about continuing its collaboration with Bangladesh Bank and other key government bodies to encourage inclusive growth and innovation throughout the country.
