Shimanto Bank partners with BB to boost ICT financing Star

Shimanto Bank PLC has recently signed a participatory agreement with Bangladesh Bank to facilitate financing at a concessional interest rate and on simplified terms for the development of the ICT sector.

AKM Nurunnabi, director of the Sustainable Finance Department at Bangladesh Bank, and Md Nurul Azim, managing director and CEO of Shimanto Bank PLC, signed the agreement at the central bank’s headquarters in Dhaka recently, according to a press release.

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To foster the development of the information technology (IT) sector, loans of up to Tk 50 crore will be provided at the customer level at an interest rate of 4 per cent per annum for a maximum term of 10 years under the scheme.

The goal of the scheme is to develop the IT sector by supporting entrepreneurs.

Senior officials from both institutions were also present at the signing ceremony.