Alliance Finance joins Tk5,000cr BB refinance fund for CMSMEs
Alliance Finance PLC has signed a participation agreement with Bangladesh Bank under the Tk 5,000 crore CMSME Working Capital Refinance Fund to provide working capital financing to eligible cottage, micro, small and medium enterprises (CMSMEs).
Under the scheme, eligible borrowers can obtain financing at an interest rate of 9% per annum, subject to applicable terms and conditions, according to the press release.
Alliance Finance Chief Executive Officer Kanti Kumar Saha and Bangladesh Bank SME and Special Programmes Department Director Md Zabdul Islam signed the agreement on behalf of their respective organisations.
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Alliance Finance Head of SME Sayful Islam, along with other senior Bangladesh Bank officials, was also present at the signing ceremony.
The Tk5,000 crore CMSME Working Capital Refinance Fund is intended to provide working capital support to eligible cottage, micro, small and medium enterprises and help businesses maintain operations and strengthen their productive capacity.
The latest agreement follows two other participation agreements Alliance Finance recently signed with Bangladesh Bank's Sustainable Finance Department for refinancing under the "Refinance Scheme for Green Factory Building and Green Industry" and the "Refinance Scheme for the Development of ICT Sector".
Under the Green Factory Building and Green Industry scheme, eligible borrowers can receive financing at an interest rate of up to 5% per annum.
The scheme supports investment in green factory buildings, green industries, and environmentally responsible industrial projects.
Under the ICT sector refinance scheme, eligible borrowers can obtain financing at an interest rate of up to 4% per annum.
The ICT scheme supports eligible businesses and entrepreneurs engaged in information and communication technology-related sectors and activities.
With the latest agreement, Alliance Finance is participating in Bangladesh Bank refinance facilities covering CMSME working capital, green industry and ICT sector financing.
