Pubali Bank has signed a participation agreement with Bangladesh Bank (BB) under the central bank’s Tk3,000 crore refinance scheme to reduce the country’s export dependence on the readymade garment sector and promote export diversification.
The agreement was signed at BB headquarters, said a press release on Tuesday.
BB Sustainable Finance Department Director AKM Nurunnabi, Pubali Bank Managing Director Mohammad Ali, Deputy Managing Director Mohammad Isha and General Manager & Head of RMG Division Md Nazrul Islam Sarker attended the signing ceremony along with senior officials of both institutions.
The scheme aims to broaden the country’s export base, enhance production capacity of promising export-oriented industries, facilitate development of new export products and markets, and strengthen export sector competitiveness.
Under the Export Policy 2024–2027, industries categorised as ‘Highest Priority Sectors’ and ‘Special Development Sectors’ will be eligible for financing, with priority given to exporters using locally produced raw materials.
Bangladesh Bank will provide refinancing facilities to participating banks at 4 per cent, while eligible exporters will obtain financing through banks at a maximum of 7 per cent. The refinancing facility will have a maximum tenure of three years, including a grace period of up to six months.
