Community Bank signs deal for Tk5,000cr CMSME refinance fund
Community Bank Bangladesh PLC has joined Bangladesh Bank's Tk5,000 crore refinance scheme to provide working capital financing to cottage, micro, small and medium enterprises (CMSMEs).
The bank signed a participation agreement under the scheme at a ceremony organised by Bangladesh Bank's SME and Special Programmes Department (SMESPD), according to a press release.
Bangladesh Bank Deputy Governor Md Anis Ur Rahman attended the ceremony as the chief guest.
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Bangladesh Bank SMESPD Director Md Zabdul Islam and Community Bank Managing Director Mohammed Emtiaz Uddin signed and exchanged the agreement on behalf of their respective organisations.
Community Bank Head of SME and Agriculture Division Sharif Hasan Mamun, Bangladesh Bank Executive Director Nahid Rahman and SMESPD Additional Director Shahanaj Pervin attended the ceremony, along with other senior central bank officials.
The fund aims to help operational CMSMEs that cannot run their production, service, or business activities at full capacity because of insufficient working capital.
Eligible enterprises can obtain financing under the scheme at an interest rate of 9%.
The scheme is intended to strengthen the productive capacity of CMSMEs, generate direct and indirect employment and increase the flow of funds into the economy.
Community Bank said its participation reflected its commitment to supporting CMSME development, advancing financial inclusion and contributing to sustainable economic growth.
