Bank Asia partners with BB for green industries, ICT financing

Bank Asia PLC has signed two participation agreements with Bangladesh Bank, becoming a participating financial institution (PFI) under the central bank’s refinance schemes for green factory buildings and industries, as well as ICT sector development.

AKM Nurunnabi, director of the Sustainable Finance Department of Bangladesh Bank, and Sohail RK Hussain, managing director of Bank Asia PLC, signed the agreements at a ceremony held recently at the central bank’s headquarters in Dhaka, according to a press release.

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Under the BB’s Tk 2,000 crore schemes, Bangladesh Bank (BB) provides low-cost financing to support the development of green factory buildings and industries, as well as projects in the information and communication technology (ICT) sector.

As a participating financial institution, Bank Asia will facilitate refinance-supported financing for eligible entrepreneurs investing in sustainable industrial development and ICT-related initiatives.

The agreements reinforce Bank Asia’s commitment to sustainable finance, responsible banking and inclusive economic growth, the release added.