BB to launch startup investment firm with Tk600cr initial fund: Governor
More funds will be added later
Bangladesh Bank Governor Mostaqur Rahman announced that an institution named Startup Investment Bangladesh Limited will begin its journey next month with Tk600 crore in funds initially.
More funds will be added later, he said today (25 April) during a pre-budget discussion organised by the Ministry of Finance with the Economic Reporters' Forum (ERF).
"Discussions are ongoing with the World Bank regarding assistance for this fund. If financial support is received from them, grants will be provided for the startups of new entrepreneurs," the governor said.
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He also mentioned that efforts are underway to announce a package within the next two weeks to restart closed industrial factories.
The governor stated that the government is working to bring back laundered money, and these efforts will continue.
Also present at the discussion, Finance Secretary Khairuzzaman Mozumder said the government is prioritising the SME sector and startups.
"The startup fund will be expanded, and refinancing arrangements will be made."
Last year on 7 April, the then Bangladesh Bank governor had announced plans to set up a dedicated fund of nearly Tk900 crore to provide capital support to startup companies.
Bangladesh Bank would also contribute nearly Tk500 crore as co-financer, previous governor Ahsan H Mansur said at an event.
