EBL signs two participation agreements with BB

Eastern Bank PLC (EBL) has signed two participation agreements with Bangladesh Bank to provide customers with financing at preferential interest rates under two of the central bank’s refinancing schemes.

A.K.M. Nurunnabi, Director, Sustainable Finance Department, Bangladesh Bank, and Hasan O. Rashid, Chief Executive Officer, Eastern Bank PLC, signed the agreements on behalf of their respective organisations. Md. Sabu Munsi, Head of SME Business, Eastern Bank PLC, was also present at the signing ceremony.

Under the Green Factory Building and Green Industries Refinancing Scheme, the agreement will facilitate financing for the construction of environmentally friendly factories and buildings. Eligible customers can avail loans of up to BDT 1 billion at an interest rate of 5%.

Under the Refinancing Scheme for the ICT Sector, priority will be given to products and services produced at hi-tech parks and software technology parks, as well as women entrepreneurs in the ICT sector. Eligible customers can avail loans of up to BDT 500 million at an interest rate of 4%.

The two refinancing schemes are expected to encourage investment in green industries and infrastructure, while supporting the growth of the ICT sector and promoting greater participation of women entrepreneurs.