NRBC Bank joins BB’s Tk 5,000cr refinance fund for CMSMEs

NRBC Bank PLC has signed an agreement with Bangladesh Bank to participate in a Tk 5,000 crore revolving refinance fund aimed at meeting the working capital needs of cottage, micro, small and medium enterprises (CMSMEs). 

On Tuesday the agreement was signed at Bangladesh Bank’s conference room in the presence of Deputy Governor Md Anis Ur Rahman. Md Jabdul Islam, Director of the SME and Special Programmes Department (SMESPD) of Bangladesh Bank, says a press release. Dr Md Touhidul Alam Khan, Managing Director of NRBC Bank, signed the agreement on behalf of their respective organizations. Md Ramzan Ali Bhuiyan, Head of the SME Division of NRBC Bank, along with senior officials from both organizations, were present at the signing ceremony.

Under the agreement, CMSME entrepreneurs will have greater access to financing to meet their working capital requirements and maintain or expand production and business operations. The loans under the refinance scheme will be available to eligible customers at an interest rate of 9 per cent.