BRAC Bank PLC has recently signed an agreement with Bangladesh Bank (BB) to participate in the Tk3,000 crore Export Diversification Refinance Scheme, aimed at expanding the country’s export base and supporting non-traditional sectors.
The scheme, introduced by BB’s Sustainable Finance Department, promotes export diversification in line with the Export Policy 2024–2027, with a focus on sectors using locally sourced raw materials, said a press release on Tuesday.
Under the scheme, BB will provide refinancing to participating banks, enabling BRAC Bank to extend financing to export-oriented businesses at a maximum interest rate of 7 per cent for a tenure of up to three years, including a six-month grace period.
The agreement was signed at the BB headquarters in Dhaka. BRAC Bank Additional Managing Director Shaheen Iqbal and Bangladesh Bank Sustainable Finance Department Director AKM Nurunnabi exchanged documents.
BRAC Bank Managing Director Tareq Refat Ullah Khan said the facility will enable the bank to provide exporters with affordable financing to develop overseas markets for non-traditional products. “By supporting export diversification, the scheme will help strengthen economic resilience, create employment and contribute to sustainable growth,” he said.
