Eligible cottage, micro, small and medium enterprises can access affordable working capital financing at an interest rate of 9 per cent under the Tk5,000 crore CMSME Working Capital Refinance Fund, following NCC Bank’s signing recent of a participation agreement with Bangladesh Bank (BB). The financing is intended to help enterprises maintain business continuity, expand production and service activities, generate employment and energise overall economic activity.
The fund has been formed under the cenbank’s Tk60,000 crore economic stimulus package. One of its main objectives is to provide financing facilities to promising and sustainable CMSME institutions that cannot operate at full capacity due to a working capital crisis.
NCC Bank Deputy Managing Director Md Habibur Rahman and BB SME & Special Programmes Department Director Md Zabdul Islam exchanged the agreement on behalf of their respective organisations in the presence of BB Deputy Governor Md Anis Ur Rahman, said a press release on Sunday.
BB Executive Director Nahid Rahman and BB Additional Director Shahanaj Pervin attended, along with NCC Bank SVP and Head of SME & Agri Credit Sharif Mohammad Mahsin and senior officials from both organisations.
