Shimanto Bank joins Bangladesh Bank’s start-up refinance scheme

The scheme offers capital financing at an interest rate of 4 percent per annum

Shimanto Bank has signed a participatory agreement of Tk 5 billion with Bangladesh Bank under the Start-up Refinance Scheme to support start-up cottage, micro, small and medium enterprises (CMSMEs).

Under the scheme, eligible start-up enterprises will be able to access working capital financing at an interest rate of 4 percent per annum, aimed at expanding financing opportunities for new CMSME businesses.

The agreement was signed at a ceremony presided over by Bangladesh Bank Deputy Governor Nurun Nahar.

Bangladesh Bank Director of the Small and Medium Enterprise and Special Programmes Department (SMESPD) Nawshad Mustafa and Shimanto Bank Managing Director and Chief Executive Officer Mohammad Azizul Hoque signed the memorandum of understanding on behalf of their institutions.