An agreement has been signed between Bangladesh Bank and BRAC Bank to provide refinancing facilities to the cottage, micro, small and medium enterprises (CMSMEs) under Covid-19 Stimulus Package. Says in a press release on Saturday
Md Abdul Wahab, General Manager, Project Implementation Unit (Covid-19 ECRF), SME & Special Programmes Department of Bangladesh Bank and Selim R F Hussain, Managing Director & CEO of BRAC Bank, signed the agreement at Bangladesh Bank on April 6, 2022.
Abu Farah Md Nasser, Deputy Governor of Bangladesh Bank, was present during the signing ceremony. Md. Obaidul Hoque, Executive Director of Bangladesh Bank and Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, BRAC Bank, were also present.
Under the agreement, BRAC Bank and other participating banks will avail refinancing facilities amounting to Tk 2,520 Crore from Bangladesh Bank and provide subsidized interest credit to the CMSMEs.
Selim R F Hussain, Managing Director & CEO of BRAC Bank, said “we appreciate Bangladesh Bank for making BRAC Bank an implementation partner of AIIB funded COVID-19 Emergency and Crisis Response Facility Project. In view of the pandemic, we have redoubled our efforts to provide much-needed funds to the CMSME entrepreneurs. We believe this refinancing facility from Bangladesh Bank will rejuvenate the industries and help them take productivity to the pre-pandemic level.”
