EBL joins BB refinance schemes for green industry, ICT sector
Eastern Bank PLC (EBL) has signed two participation agreements with Bangladesh Bank to provide eligible customers with financing at preferential interest rates under refinance schemes for green factory buildings, green industries and the information and communication technology (ICT) sector.
The agreements will enable EBL to provide eligible borrowers with financing of up to Tk100 crore at a maximum interest rate of 5% for green projects and up to Tk50 crore at a maximum 4% rate for eligible ICT-sector initiatives, according to the press release.
Bangladesh Bank Sustainable Finance Department Director AKM Nurunnabi and EBL Chief Executive Officer Hassan O Rashid signed the agreements on behalf of their respective organisations.
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EBL Head of SME Business Md Sabu Munsi was also present at the signing ceremony.
Under the Tk1,000 crore "Refinance Scheme for Green Factory Building and Green Industry", eligible projects that establish environmentally responsible factories and green factory buildings will receive financing.
An individual eligible borrower can receive financing of up to Tk100 crore under the scheme at a maximum interest rate of 5% per annum, subject to Bangladesh Bank's applicable conditions.
The scheme is intended to encourage investment in environmentally responsible industrial development and green infrastructure.
Under the Tk1,000 crore "Refinance Scheme for the Development of ICT Sector", eligible customers can receive financing of up to Tk50 crore at a maximum interest rate of 4% per annum.
The ICT scheme will prioritise products and services produced at Bangladesh Hi-Tech Parks and software technology parks, as well as women entrepreneurs operating in the ICT sector.
The ICT scheme covers eligible activities and technologies including software development, artificial intelligence, fintech, cybersecurity, cloud computing, e-commerce, robotics, data analytics and other technology-related areas identified under Bangladesh Bank's guidelines.
The two refinance schemes aim to encourage investment in green industries and infrastructure while supporting the development and competitiveness of Bangladesh's ICT sector.
