Prime Bank signs deal with Bangladesh Bank for Tk500cr start-up fund

Prime Bank PLC has signed a participation agreement with the Bangladesh Bank to implement a Tk 500 crore start-up refinancing fund, aimed at fostering entrepreneurship and supporting emerging business ventures across the country.

The signing ceremony was held at the Jahangir Alam Conference Hall of the Bangladesh Bank. Muhammad Mustafizur Rahman, Additional Director of the Bangladesh Bank, and M Nazeem A. Choudhury, Deputy Managing Director of Prime Bank, signed the agreement on behalf of their respective organisations. Senior officials from both sides were also present.

Under the agreement, Prime Bank will extend financing to start-up entrepreneurs on easy terms through Bangladesh Bank's refinancing facility. In addition to funding, the bank will provide training, technical assistance, and advisory services to help entrepreneurs manage and scale their businesses more effectively.

"This collaboration with Bangladesh Bank demonstrates our shared commitment to nurturing innovative entrepreneurs and supporting the country's CMSME sector," said M Nazeem A Choudhury, Deputy Managing Director of Prime Bank. "By facilitating access to finance and capacity-building support, we aim to transform entrepreneurial ideas into thriving businesses that will generate employment, strengthen the CMSME ecosystem, and contribute to Bangladesh's sustainable economic growth."

The initiative marks another milestone in Prime Bank's efforts to promote financial inclusion, empower entrepreneurs, and accelerate the nation's journey towards a resilient and innovation-driven economy.