Prime Bank PLC has recently signed a participatory agreement with Bangladesh Bank (BB) to distribute conditional loans with interest from a Tk5,000 crore working capital refinance fund for the Cottage, Micro, Small, and Medium Enterprises (CMSME) sector.
Under the fund, viable and active CMSME institutions will get financing facility at only 9 per cent interest, said a press release on Saturday.
The agreement was signed at BB head office’s AN Hamidullah Conference Room.
BB SME and Special Programmes Department Director Md Jabdul Islam and Prime Bank PLC Additional Managing Director Nazeem A Choudhury signed on behalf of their respective organisations.
BB Deputy Governor Md Anisur Rahman was present as chief guest. BB Executive Director Nahid Rahman and Additional Director Shahanaz Parvin were also present.
BB formed the fund under its announced Tk60,000 crore incentive package. The fund aims to enable banks to take advantage of necessary working capital loans and investments in the CMSME sector, increase customer facilities and create direct and indirect employment in the country.
