Bangladesh Bank (BB) and BRAC Bank have signed an agreement to provide loan under refinancing facilities for the cottage, micro, small and medium enterprises (CMSMEs), a press release said Wednesday. BB has set up a fund amounting to Tk 25,000 crore to be disbursed through the participating banks and non-bank financial institutions. Abdur Rouf Talukder, Governor, Bangladesh Bank, attended the Participation Agreement signing ceremony at Bangladesh Bank on August 24, 2022 as the chief guest and Deputy Governor Abu Farah Md. Nasser was present as the special guest. Md. Jaker Hossain, Director, SME & Special Programmes Department, Bangladesh; and Selim R. F. Hussain, Managing Director & CEO, BRAC Bank, signed the agreement on behalf of their respective organizations. Abu Farah Md. Nasser, Deputy Governor, Bangladesh Bank; and Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, BRAC Bank, and other senior officials of Bangladesh Bank and other banks were also present. As per terms of the refinancing scheme, BRAC Bank will provide loans at 7% to CMSMEs, especially in SME clusters, with a particular focus on women entrepreneurs and business owners affected by natural calamities.
