Prime Bank signs agreement with BB to avail refinancing support

Prime Bank Limited has signed Participation Agreement with Bangladesh Bank to avail Refinance Fund for Technology Development and Upgradation of Export Oriented Industries.

Hassan O. Rashid, Managing Director & CEO, Prime Bank Limited, and Khondkar Morshed Millat, General Manager, Sustainable Finance Department, Bangladesh Bank, signed the agreement on behalf of their respective organizations at a signing ceremony on April 1, 2021 at Bangladesh Bank in presence of Abu Farah Md. Nasser, Deputy Governor, Bangladesh was, the chief guest.

Shams Abdullah Muhaimin, Deputy Managing Director, Transaction Banking, Structured Finance & International Division, Prime Bank, and senior officials of other participating banks and non-bank financial institutions were also present on the occasion.

Under this agreement, Prime Bank will get access to long-term finance for onward lending to its existing and prospective clients in the export-oriented industries to procure machineries and technologies for modernization and technological development and up-gradation of capital machinery.

The facility will also cover financing in technology, energy efficient machinery and machinery and technology related to water, air, heat and waste management, business process reengineering and automation, operations management, workplace management, human resource development and management, sales and marketing management automation.