BB, Shimanto Bank sign start-up refinance pact

Business Desk :

Shimanto Bank has signed a participatory agreement under a Tk500 crore Start-up Refinance Scheme with Bangladesh Bank to facilitate start-up cottage, micro, small, and medium enterprises (CMSMEs).

Under the agreement, start-up enterprises will be able to access working capital financing at an interest rate of four per cent per annum, aimed at expanding access to affordable finance and creating new opportunities for start-up CMSME businesses.

The agreement signing ceremony was presided over by Deputy Governor, Nurun Nahar, of Bangladesh Bank.
Nawshad Mustafa, Director of the SME and Special Programmes Department (SMESPD) of Bangladesh Bank, and Mohammad Azizul Hoque, Managing Director and Chief Executive Officer (current charge) of Shimanto Bank, signed the memorandum of understanding on behalf of their respective organisations.
Senior officials from both organizations were present at the ceremony.