Citizens Bank taps Tk5,000cr BB refinance schemes

Citizens Bank PLC has joined three Bangladesh Bank (BB) refinance schemes aimed at expanding financing for export diversification, green industries and the ICT sector.

The bank recently signed participation agreements with BB’s Sustainable Finance Department at the central bank’s head office in Dhaka, according to a press release.

The agreements cover the Tk3,000 crore refinance scheme for export diversification, the Tk1,000 crore scheme for green industries and green factory buildings, and the Tk1,000 crore scheme for ICT sector development.

Alamgir Hossain, managing director of Citizens Bank, and AKM Nurunnabi, director of BB’s Sustainable Finance Department, signed the agreements on behalf of their respective organisations.

The arrangements will allow the bank to access BB’s refinancing facilities and offer targeted financing to eligible businesses in priority and emerging sectors.

The schemes are expected to support export diversification, environmentally sustainable industrial development, green factory investment and the continued expansion of the ICT sector.
Senior officials from both institutions attended the signing ceremony.