NCC Bank to expand green, ICT financing under BB schemes

NCC Bank PLC has signed two separate agreements with Bangladesh Bank to participate in two refinance schemes of the central bank aimed at increasing financing for environment-friendly industries and technology-driven initiatives.

Under the agreements, financing will be provided under the “Refinance Scheme for Green Factory Building and Green Industry Sector” and the “Refinance Scheme for Development of the Information and Communication Technology Sector.”

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Each scheme has a fund size of Tk 1,000 crore, which will expand opportunities for financing environment-friendly industrialisation and technology-driven initiatives.

M Shamsul Arefin, managing director of NCC Bank PLC, and AKM Nurunnabi, director of the Sustainable Finance Department of Bangladesh Bank, signed the agreements at the central bank’s headquarters in Dhaka recently, according to a press release.

Through the refinance facilities, opportunities will be created to finance the construction of green factories, environment-friendly industrial infrastructure and various ICT-driven initiatives. At the same time, the financing will help transform existing industrial establishments into more environmentally compliant and resource-efficient production systems.

For NCC Bank, the initiative will not only expand the scope of sustainable financing but also create opportunities to more effectively link financing with efforts to reduce carbon emissions and the industrial sector’s carbon footprint.

By increasing investment in environment-friendly technologies and energy-efficient infrastructure, the refinance facilities will play an important role in advancing the country’s industrialisation along an environmentally sustainable growth path.

Nighat Mumtaz, executive vice-president and head of sustainable and women’s banking at NCC Bank PLC, was also present, along with relevant senior officials of both institutions.