Trust Bank joins BB refinance schemes for small businesses

Trust Bank PLC has signed two agreements with Bangladesh Bank under its refinance schemes to support the development of cottage, micro, small and medium enterprises (CMSMEs) clusters and MSMEs across the country.

Under the schemes, the central bank has created a Tk 3,000 crore fund for the development of CMSME clusters and another Tk 1,500 crore fund to promote the growth of micro, small and medium enterprises (MSMEs), according to a press release. Entrepreneurs will be able to avail financing facilities at a concessional interest rate of 7 percent.

Ahsan Zaman Chowdhury, managing director and CEO of Trust Bank PLC, and Nawshad Mustafa, director of the SME and Special Programmes Department of Bangladesh Bank, signed the agreements at the BB headquarters in Motijheel, Dhaka on Monday.

Through its participation in the refinance schemes, Trust Bank PLC reaffirmed its commitment to supporting entrepreneurship development, financial inclusion, and sustainable economic growth in Bangladesh, the release added.

Nurun Nahar, deputy governor of Bangladesh Bank, attended the signing ceremony as the chief guest.

Managing directors and chief executive officers (CEOs) of 24 banks and five non-banking financial institutions (NBFIs) also signed agreements on behalf of their respective organisations.

Husne Ara Shikha, executive director of Bangladesh Bank, along with other senior officials from the central bank and Trust Bank PLC, was also present at the event.