CITIZENS BANK, BB SIGN AGREEMENT FOR CLUSTER FINANCING, MSME DEV.--

CITIZENS BANK, BB SIGN AGREEMENT FOR CLUSTER FINANCING, MSME DEV.

Citizens Bank signed a participation agreement with Bangladesh Bank (BB) to implement Tk 30 billion Cluster Financing Scheme and Tk 20 billion agro processing for the development of micro, small and medium enterprises at BB head office recently. Under the agreement, Citizens Bank will provide loans to cluster and agro processing entrepreneurs at an interest rate of seven per cent under BB's refinancing scheme. In presence of Nurun Nahar, deputy governor of BB, Nawshad Mustafa, director, SME & special programs department, Bangladesh Bank, and Md. Mostafizur Rahman, deputy managing director of Citizens Bank, signed and exchanged the deed of agreement.