Bank Asia inks participation deal with BB for refinancing facility

Bank Asia signed a participation agreement with Bangladesh Bank (BB) for refinancing facility under ‘Supporting Post Covid-19 Small Scale Employment Creation Project’ (SPCSSECP) on Tuesday.

Under the agreement, Bank Asia will have the participation to finance the targeted vulnerable groups such as returning migrant workers, unemployment/underemployed youth and rural entrepreneurs with a special focus on women entrepreneurs at a minimum interest rate under the SPCSSECP refinance fund of &150.00 million by ADB, said a press release.

Nurun Nahar, executive director of BB and Md Arfan Ali, president and managing director of Bank Asia, signed the agreement from their respective sides.

Besides, Abu Farah Md Nasser, deputy governor of BB was chief guest and Dongdong Zhang, principal financial sector specialist of Asian Development Bank (ADB), was special guest at the signing ceremony.