Bangladesh Bank Launches BDT 5 Billion Refinancing Fund for Start-up Entrepreneurs

Staff Reporter | PNN:
Bangladesh Bank has launched a BDT 5 billion refinancing fund to support start-up entrepreneurs. Through this fund, entrepreneurs can obtain loans at a maximum interest rate of 4 percent. On Tuesday, participation agreements were signed at the central bank headquarters with 16 scheduled banks and 4 finance companies.

Deputy Governor of Bangladesh Bank, Nurun Nahar, and Executive Director Husne Ara Shikha attended the event, while Governor Dr. Ahsan H. Mansur joined virtually.

Under the new circular, start-up entrepreneurs can receive term loans or working capital loans/investments ranging from BDT 20 million to BDT 80 million. In addition, the formation of an equity investment company in coordination with 52 partner banks was also discussed.

Bangladesh Bank stated that the start-up sector plays a crucial role in generating employment, promoting innovative businesses, and enhancing international partnerships in the country’s economy. This new fund will facilitate easier access to financing for entrepreneurs and support the sustainable development of the sector.