Standard Bank signs deal with Bangladesh Bank

Business Desk :
Standard Bank signed a participation agreement with Bangladesh Bank under “Covid -19 Emergency and Crisis Response Facility Project (CECRFP) on April 9 at the head office premises of Bangladesh Bank.
Under the agreement, SBL will get a re-finance facility against a $300 million fund supported by Asian Infrastructure Investment Bank (AIIB) for allowing Investment facilities to CMSME(s) at a 4% rate under Covid-19 stimulus packages, reads a press release.
In presence of Abu Farah Md Nasser, deputy governor of Bangladesh Bank, Md Habibur Rahman, managing director and CEO of Standard Bank and Md Abdul Wahab, director (CECRFP) and project director, SMESPD, Bangladesh Bank signed the agreement on behalf of their respective organizations.
Dr Md Kabir Ahmed, executive director of Bangladesh Bank, Md Touhidul Alam Khan, additional managing director and CRO of Standard Bank, Mohammad Zakir Hossain, head of SME Business and other officials of Bangladesh Bank were present in the ceremony.