Eastern Bank signs refinancing deals with BB to support green investment

Eastern Bank PLC (EBL) has signed two participation agreements with Bangladesh Bank to provide financing at preferential interest rates under the central bank’s refinancing schemes to support the construction of environmentally friendly factories and promote women entrepreneurs.

AKM Nurunnabi, director of the Sustainable Finance Department of Bangladesh Bank, and Hassan O Rashid, chief executive officer of Eastern Bank, signed the agreements at the central bank’s headquarters in Motijheel, Dhaka recently, according to a press release.

Tap here to add The Daily Star as a trusted source

Under the Green Factory Building and Green Industries Refinancing Scheme, the agreement will facilitate financing for the construction of environmentally friendly factories and buildings.

Eligible customers can avail themselves of loans of up to Tk 100 crore at an interest rate of 5 percent.

Under the refinancing scheme for the ICT sector, priority will be given to products and services produced at hi-tech parks and software technology parks, as well as to women entrepreneurs in the ICT sector. Eligible customers can avail themselves of loans of up to Tk 50 crore at an interest rate of 4 percent.

The two refinancing schemes are expected to encourage investment in green industries and infrastructure while supporting the growth of the ICT sector and promoting greater participation of women entrepreneurs, the release added.

Md Sabu Munsi, head of SME Business at Eastern Bank, was also present at the signing ceremony.