Dhaka: Bangladesh Bank (BB) has signed participation agreements with 16 scheduled banks and four financial institutions under its Taka 5-billion refinance fund aimed at boosting startup financing and enhancing youth employment opportunities. BB Governor Dr. Ahsan H Mansur participated in the signing ceremony virtually, while Deputy Governor Nurun Nahar and Executive Director Husne Ara Shikha attended the event in person at the central bank headquarters on Tuesday.
According to Bangladesh Sangbad Sangstha, the agreements were formalized by BB SME and Special Programs Department Director Mohammad Mostafizur Rahman, who signed on behalf of the central bank. The managing directors of the participating banks and financial institutions were also present to endorse the agreements.
The initiative follows the master circular issued by the central bank on July 9, which allows entrepreneurs to access refinance loans and investments at a maximum interest or profit rate of four percent. Additionally, the circular has revised the loan ceilings for startups, setting new limits between Taka 20 million and Taka 80 million.
The ceremony also included discussions about forming an equity investment company in collaboration with 52 partner banks, aimed at further strengthening support for startup financing in the country.