Bank Asia, BB sign refinance deal

Bank Asia Limited has signed a participation agreement with Bangladesh Bank under a refinance fund of Tk 5,000 crore aiming to accelerate green practices and sustainable growth in export-oriented and manufacturing industries.

Adil Chowdhury, president and managing director of Bank Asia, and Chowdhury Liakat Ali, director of the sustainable finance department of Bangladesh Bank (BB), signed the agreement at the latter's headquarters in Dhaka last week, said a press release.

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Under the deal, Bank Asia will provide credit to borrowers for importing capital machinery and accessories to implement environment-friendly initiatives. Abdur Rouf Talukder, BB governor, Kazi Sayedur Rahman, deputy governor, and Md Khurshid Alam, executive director, were present.

On December 7 last year, the central bank formed the refinancing scheme named "Green Transition Fund (GTF)" as part of its effort to help manufacturing and export-oriented industries go green with energy-efficient and environment-friendly capital machinery.