Pubali Bank joins BB refinance schemes for green, ICT sectors

Pubali Bank PLC has signed participation agreements with Bangladesh Bank under the central bank’s two refinance schemes aimed at expanding financing for green industries and the information and communication technology (ICT) sector.

The schemes are the “Refinance Scheme for Green Factory Building and Green Industry Sector” and the “Refinance Scheme for Development of the Information and Communication Technology Sector”. Each has a fund size of Tk 1,000 crore.

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

The Tk 1,000 crore green finance scheme aims to encourage financing for green factory buildings, green industries and other environmentally responsible industrial initiatives.

It is expected to expand financing opportunities for sustainable industrialisation and promote green investment and environmentally responsible production practices.

The ICT refinance scheme seeks to enhance the sector’s efficiency and competitiveness through modern and sustainable technologies. It also aims to develop human resources, expand technology-driven enterprises and support new technologies and services aligned with the Fourth Industrial Revolution.

The facility covers technology-driven initiatives such as software development, artificial intelligence, cybersecurity, fintech, cloud computing, e-commerce, robotics and semiconductors.

Through participation in the two schemes, Pubali Bank will expand financing for environment-friendly industrial initiatives and the ICT sector, the release said.

Mohammad Esha, deputy managing director of Pubali Bank, and Md Nazrul Islam Sarker, general manager and head of the RMG division, were also present at the signing ceremony.