Mercantile Bank signs Tk5,000cr refinance deals

Mercantile Bank PLC has joined three Bangladesh Bank (BB) refinance schemes worth a combined Tk5,000 crore, targeting export diversification, green industries and the ICT sector.

The bank recently signed participation agreements with BB, according to a press release.

The facilities comprise Tk3,000 crore for export diversification, Tk1,000 crore for green factory buildings and green industries, and another Tk1,000 crore for ICT sector development.

AKM Nurunnabi, director of the Sustainable Finance Department of BB, and Mati Ul Hasan, managing director of Mercantile Bank, signed the agreements on behalf of their respective organisations.

Md Tohidul Islam, additional director of the sustainable finance department of BB, Md Mustahidur Reza Chowdhury, vice president and head of the RMG financing unit of Mercantile Bank, and Muhammad Hasibul Hakim Khan, official focal point of the bank’s sustainable finance unit, among others, attended the signing ceremony.

The schemes are expected to widen access to financing for export-oriented businesses, environment-friendly production and technology-based enterprises.