Trust Bank has signed a participation agreement with Bangladesh Bank under a Tk5,000 crore working capital refinance fund aimed at providing affordable financing to cottage, micro, small and medium enterprises (CMSMEs) at a 9 per cent interest rate.
The agreement was signed on 8 September at the AN Hamidullah Conference Room of Bangladesh Bank headquarters by Bangladesh Bank SME and Special Programmes Department Director Md Zabdul Islam and Trust Bank Deputy Managing Director Akhlasur Rahman Bhuiyan, the bank said in a press release.
Bangladesh Bank Deputy Governor Md Anis Ur Rahman attended the ceremony as chief guest. Bangladesh Bank Executive Director Nahid Rahman and Additional Director Shahanaj Pervin, along with other officials, were also present.
The fund was established under Bangladesh Bank’s Tk60,000 crore stimulus package to support operational CMSME enterprises unable to utilise their full production, service or business capacity because of inadequate working capital.
Eligible enterprises will be able to access financing at an interest rate of 9 per cent.
The initiative is expected to strengthen CMSME operations, enhance production and business capacity, generate direct and indirect employment and accelerate economic activity across the country.
