BB, Mercantile Bank ink deal on refinance fund

Mercantile Bank recently signed a participation agreement with Bangladesh Bank to avail refinance fund under the "Supporting Post Covid-19 Small Scale Employment Creation Project (SPCSSECP)."

Nurun Nahar, executive director of Bangladesh Bank, and Md Quamrul Islam Chowdhury, managing director of Mercantile Bank Ltd, signed the agreement on the central bank premises in Dhaka, a press release said. 

Under this agreement, Mercantile Bank will distribute the fund of the SPCSSECP programme to returning migrant workers, unemployed or underemployed youths, rural and women entrepreneurs at a lower interest rate.

Abu Farah Md Nasser, deputy governor of Bangladesh Bank, Dong Dong Zhang, principal financial sector specialist of Asian Development Bank, Md Jaker Hossain, general manager of SME and special programme department, Rozina Akter Mustafi, deputy general manager, and Adil Raihan, deputy managing director of Mercantile Bank, were present.