NRB Bank offers 9% loans to CMSMEs

NRB Bank PLC has joined Bangladesh Bank’s (BB) Tk5,000 crore working capital refinance fund to provide financing to cottage, micro, small and medium enterprises (CMSMEs) at a 9% interest rate.
NRB Bank and BB signed a participation agreement on Tuesday at the central bank’s headquarters in Dhaka, according to a press release. Md Zabdul Islam, director of the SME and Special Programmes Department of BB, and Tarek Reaz Khan, managing director and CEO of NRB Bank, signed the agreement on behalf of their respective organisations.
BB Deputy Governor Md Anis Ur Rahman attended the ceremony as chief guest. Executive Director Nahid Rahman, Additional Director Shahanaj Pervin and NRB Bank’s Head of SME Division Md Aminul Islam were also present.
The refinance fund is part of Bangladesh Bank’s Tk60,000 crore stimulus package aimed at helping viable CMSMEs overcome working-capital shortages, sustain production and services, and create employment.
Under the scheme, eligible enterprises will receive financing at a maximum interest rate of 9%, helping small businesses maintain operations and expand economic activity.