Bank Asia PLC has signed agreement with Bangladesh Bank to facilitate and strengthen financing support for Cottage, Micro, Small and Medium Enterprises (CMSMEs) across the country.
Under the agreement, Bank Asia will provide financing facilities to entrepreneurs under Bangladesh Bank's "Cluster Financing" and "FSFDMSME" schemes, says a press release.
Through the FSFDMSME scheme, formed with a fund of BDT 1500 crore from Bangladesh Bank's own resources, and the SME Cluster Financing Scheme comprising BDT 3000 crore, entrepreneurs will be able to avail loans at an interest rate of 7%.
The financing facilities will support the purchase of fixed assets, business expansion and modernization of business establishments.
The agreement signing ceremony was held at Bangladesh Bank recently.
Deputy Governor Nurun Nahar, Executive Director Husne Ara Shikha and Director Nawshad Mustafa of Bangladesh Bank, Deputy Managing Director Syed Zulkar Nayen and Head of Small Business Mohammad Saifuddowla of Bank Asia attended the ceremony.
