10 more banks, institutions sign deal with BB

A participatory agreement was signed between the central bank and 10 more banks and non-banking financial institutions under the re-finance scheme of the 'Second Small and Medium-Sized Enterprise Development Project (SMEDP-2)' on Tuesday.

Formed jointly by the Asian Development Bank (ADB) and the government, the refinancing scheme fund of US$240 million is aimed at widening the financial services to cottage and micro, small and medium-sized industries in the areas outside of Dhaka and Chittagong metropolitan cities.

Modhumoti Bank, Midland Bank, NRB Bank, Prime Bank, Southeast Bank, Premier Bank, Meridian Finance and Investment Ltd., Midas Financing Ltd., National Finance Ltd. and Uttara Finance and Investment Ltd signed the agreement with Bangladesh Bank (BB).

Bangladesh Bank Executive Director Md Abdur Rahim was present as the chief guest at the function.

In the first phase, a total of 19 institutions signed an agreement with the central bank under the SMEDP-2 project on January 10.

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