Bangladesh Bank (BB) has inked participation agreements with 16 scheduled banks and four Financial Institutions (FIs) under its Taka 5-billion refinance fund to boost startup financing and youth employment.
BB Governor Dr Ahsan H Mansur joined the signing ceremony virtually, while Deputy Governor Nurun Nahar and Executive Director Husne Ara Shikha attended it in person at the central bank headquarters on Tuesday, said a press release today.
On behalf of the central bank, BB SME and Special Programs Department Director Mohammad Mostafizur Rahman signed the agreements with managing directors of the participating banks and financial institutions.
As per the central bank’s master circular issued on July 9, entrepreneurs can now avail refinance loans and investments at a maximum interest or profit rate of four percent.
The circular also raised loan ceilings for startups, setting limits between Taka 20 million and Taka 80 million.
The meeting also discussed the formation of an equity investment company involving 52 partner banks to strengthen startup financing.
