Community Bank Bangladesh PLC. and Bangladesh Bank have signed a Participation Agreement under the BDT 5,000 crore Refinance Scheme for CMSME Working Capital Finance, aimed at facilitating access to working capital for Cottage, Micro, Small and Medium Enterprises (CMSMEs) across the country.
The agreement was signed at a ceremony organized by the SME & Special Department of Bangladesh Bank. Md. Anis Ur Rahman, Deputy Governor of Bangladesh Bank, attended the ceremony as the Chief Guest.
Md. Zabdul Islam, Director, SMESPD of Bangladesh Bank and Mohammed Emtiaz Uddin, Managing Director of Community Bank Bangladesh PLC. signed & exchanged the agreement on behalf of their respective organizations. Besides, Sharif Hasan Mamun, Head of SME & Agriculture Division of Community Bank Bangladesh PLC. and Nahid Rahman, Executive Director, Shahanaj Pervin, Additional Director of SMESPD along with other Senior Officials of Bangladesh Bank were also present on this occasion.
Under the incentive package of Tk 60,000 (sixty thousand) announced by Bangladesh Bank, Bangladesh Bank formed this fund with the aim of increasing the capacity of the CMSME sector to run production/services/business activities at their full capacity by providing necessary working capital loan/investment and to accelerate the wheels of slow economy by creating direct and indirect employment in the country.
Under this fund, normally functioning CMSMEs but not able to operate production/services/business activities at full capacity due to lack of required working capital will get financing facility at 9% interest only. Community Bank Bangladesh PLC.’s participation in the refinance scheme reflects its continued commitment to supporting CMSME development, promoting financial inclusion and contributing to the sustainable growth of the country’s economy.
