B.Mirror Desk: NCC Bank has signed a participation agreement with Bangladesh Bank under the Tk. 5,000 Crore CMSME Working Capital Refinance Fund to provide affordable working capital financing to eligible cottage, micro, small and medium enterprises (CMSMEs) and help enhance their productive capacity.
In presence of Md. Anis Ur Rahman, Deputy Governor of Bangladesh Bank, Md. Habibur Rahman, Deputy Managing Director of NCC Bank, and Md. Zabdul Islam, Director, SME & Special Programmes Department of Bangladesh Bank, exchanged the agreement on behalf of their respective organizations. Nahid Rahman, Executive Director and Shahanaj Pervin, Additional Director, of Bangladesh Bank and Sharif Mohammad Mahsin, SVP & Head of SME & Agri Credit of NCC Bank, along with senior officials from both the organizations, were also present at the ceremony.
The Tk. 5,000 Crore CMSME Working Capital Refinance Fund has been formed under Bangladesh Bank’s Tk. 60,000 Crore economic stimulus package. One of the main objectives of the fund is to provide necessary financing facilities to promising and sustainable CMSME institutions that cannot operate at full capacity due to a working capital crisis. Under this scheme, eligible CMSME institutions will be able to avail financing facilities at an interest rate of only 9 percent, subject to the relevant policies and conditions. Through this financing, opportunities will be created to maintain business continuity, expand production and service activities, generate employment, and energize overall economic activities.