Dutch-Bangla Bank, BB sign deals for ICT, green factory refinance

Dutch-Bangla Bank PLC has signed participation agreements with Bangladesh Bank to access low-cost credit facilities for its clients under two refinance schemes of the central bank.

AKM Nurunnabi, director of the Sustainable Finance Department of Bangladesh Bank, and Md Ahteshamul Haque Khan, managing director and CEO of Dutch-Bangla Bank PLC, signed the agreements at the central bank’s headquarters in Dhaka recently, according to a press release.

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The schemes are the “Refinance Scheme for Green Factory Building & Green Industries” and the “Refinance Scheme for the Development of ICT Sector”.

Of the two schemes, the refinance scheme for green factory buildings and green industries aims to promote the construction of green factories and buildings. Constructing green infrastructure will help create export competitiveness by attracting reputed buyers while also reducing environmental pollution.

A total fund of Tk 1,000 crore (revolving) has been allocated to the scheme. However, an individual borrower will be eligible for a maximum loan of Tk 100 crore at an interest rate of 5 percent.

The refinance scheme for the development of the ICT sector, meanwhile, aims to support entrepreneurs engaged in the ICT sector and its subsectors, which are now receiving high priority in the government’s development plans.

In addition, products and services produced in Bangladesh Hi-Tech Parks or software technology parks, as well as women entrepreneurs in the ICT sector, will be given priority under the scheme.

A total fund of Tk 1,000 crore (revolving) has been allocated to the scheme. However, an individual borrower will be eligible for a maximum loan of Tk 50 crore at an interest rate of 4 percent.