BB launches Tk500cr fund for start-ups
Eligible entrepreneurs will get loans at a maximum interest rate of 4%
The Bangladesh Bank has initiated a Tk500 crore refinancing fund aimed at supporting start-up entrepreneurs.
The programme allows eligible entrepreneurs to access loans at a maximum interest rate of 4%.
The official launch took place yesterday (2 September) with a participation agreement signing ceremony at the Bangladesh Bank head office.
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Sixteen scheduled banks and four financial institutions joined the agreement.
Deputy Governor Nurun Nahar and Executive Director Husne Ara Shikha were present, while Governor Dr Ahsan H Mansur attended the event virtually.
Mohammad Mostafizur Rahman, director of the SME and Special Programs Department, signed the agreement on behalf of Bangladesh Bank, while the managing directors and heads of the SME departments signed on behalf of their respective institutions.
Under the newly revised circular, start-ups can now secure both term and working capital loans ranging from Tk2 crore to Tk8 crore.
The event also included discussions on a proposed equity investment company, which would be formed in collaboration with 52 partner banks.
Bangladesh Bank stated that in the current economic climate, the start-up sector is crucial for creating employment, fostering innovative businesses, and strengthening international partnerships.
The central bank believes that this new fund will streamline the financing process for entrepreneurs and contribute to the sustainable development of the sector.
