Bangladesh Bank Boosts Startups with Tk 5 Billion Refinance Fund
To foster new entrepreneurs and support the country’s emerging business initiatives, Bangladesh Bank has undertaken an initiative to form a Tk 5 billion (500 crore taka) Startup Refinance Fund. As part of the implementation of this fund, NRB Bank PLC has signed a participation agreement with the central bank.
Under the agreement, NRB Bank will provide loans to startup entrepreneurs on easy terms through Bangladesh Bank’s refinance facility. In addition to financing, the bank will also offer training, technical assistance, and advisory services to help entrepreneurs manage and expand their businesses effectively.
According to a press release issued on January 11, the agreement was signed recently at the Jahangir Alam Conference Hall of Bangladesh Bank. On behalf of their respective institutions, the agreement was signed by Naushad Mostafa, Director of SME SPD at Bangladesh Bank, and Md. Shaheen Hawlader, Deputy Managing Director of NRB Bank.
The signing ceremony was attended by Deputy Governor Nurunnahar as the chief guest. Executive Director Hosne Ara Shikha was also present at the event. Senior officials from both Bangladesh Bank and NRB Bank attended the ceremony as well.
DBTech/Press Release/MUM/OR
