MTB signs participating agreement for Bangladesh Bank

Mutual Trust Bank Ltd (MTB), as a participant in the Bangladesh Bank-Long Term Financing Facility (BB-LTFF), has signed a Participating Agreement (PA) with Bangladesh Bank (BB).

Based on the success of the recently completed LTFF under the FSSP, Bangladesh Bank (BB) now decided to continue providing long-term financing for private sector firms, mainly export-oriented manufacturing (small, medium, and large) firms. This financing will be offered in US Dollars.

The financing under the BB-LTFF will bring in several benefits, including long-term financing facility in foreign currency for private sector firms, especially for export-oriented manufacturers, low-cost foreign currency soft loans (lower interest rate with longer tenure) to exporters, enterprises, and other private sector firms, financing facility for purchasing ocean-going vessels and specialised transport vehicles supporting the transportation of goods manufactured in the country, and sustainable growth and environmental and social compliances in businesses.

An agreement signing ceremony between Participating Financial Institutions (PFIs) and Bangladesh Bank (BB) for participating in the Bangladesh Bank – Long Term Financing Facility (BB-LTFF) was held at Bangladesh Bank's Head Office recently.  

A total of Eighteen (18) Banks signed the agreement under this project. Nurun Nahar, Deputy Governor, Bangladesh Bank was present in the signing ceremony as Chief Guest. BB's Director (FSSSPD), Liza Fahmida and MTB's Managing Director & CEO, Syed Mahbubur Rahman signed the agreement on behalf of their respective organisations. Senior officials from Banks, and Bangladesh Bank were present in the signing ceremony.