Modhumoti Bank PLC on Tuesday signed an agreement with Bangladesh Bank (BB) to participate in the Tk5,000 crore Cottage, Micro, Small, and Medium Enterprise (CMSME) Working Capital Refinance Fund, enabling the bank to extend financing to CMSME customers at a concessional interest rate of 9 per cent.
The agreement was signed at BB headquarters, chaired by Deputy Governor Md Anis Ur Rahman, said a press release on Wednesday.
Modhumoti Bank Managing Director Md Shafiul Azam and BB SME Department Director Md Zabdul Islam signed the agreement on behalf of their respective organisations.
Modhumoti Bank Deputy Managing Director Arab Fazlur Rahman and CMSME Business Support Head Zahid Al Muntasir attended from the bank. BB Executive Director Nahid Rahman and Additional Director Shahanaj Pervin were also present.
The initiative aims to contribute to the growth and development of the CMSME sector through affordable financing.
