BB, Bank Asia sign deal on refinance facility

Bank Asia signed a participation agreement with Bangladesh Bank for refinance facility under the Supporting Post Covid-19 Small Scale Employment Creation Project (SPCSSECP).

Nurun Nahar, executive director of Bangladesh Bank, and Md Arfan Ali, president and managing director of Bank Asia Ltd, signed the agreement on the central bank premises in Dhaka on May 24, a press release said.

Under the agreement, Bank Asia will have the participation to finance the targeted vulnerable groups such as returning migrant workers, unemployment/underemployed youths and rural entrepreneurs with a special focus on women entrepreneurs at minimum interest under the SPCSSECP refinance fund of $150.00 million by Asian Development Bank (ADB).

Abu Farah Md Nasser, deputy governor of Bangladesh Bank, was the chief guest and Dongdong Zhang, principal financial sector specialist of ADB, was the special Guest at the signing ceremony.

Md Shaminnor Rahman, head of MSME and Agri Division, and Samiul Anam, AVP, head of CMSE, channel banking of Bank Asia, were also present.