Bank Asia signs agreement with BB on refinance scheme

Bank Asia Limited signed a 'Participation Agreement' with Bangladesh Bank (BB) under a refinance fund on 16 March.

This Tk5,000 crore refinance scheme aims to accelerate green practices and sustainable growth in export-oriented and manufacturing industries, reads a press release. 

The programme was held at Jahangir Alam Conference Hall of the central bank's headquarters in Dhaka.

Abdur Rouf Talukder, governor of Bangladesh Bank, Adil Chowdhury, president & managing director of Bank Asia, and Chowdhury Liakat Ali, director, Sustainable Finance Department of Bangladesh Bank, signed the agreement on behalf of their respective organisations.

Kazi Sayedur Rahman, deputy governor and Md Khurshid Alam, executive director of Bangladesh Bank, were also present on occasion.

Under this agreement, Bank Asia will provide credit to the eligible borrowers for importing capital machinery and accessories to implement the green and environment-friendly initiatives.

Earlier on 07 December 2022, 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.