EBL to get Tk 1,000cr BB fund

Staff Correspondent | Published: 18:23, Mar 07,2021


Participants pose for a photo session at a participation agreement signing ceremony between Eastern Bank Limited and Bangladesh Bank recently. — Press Release

Eastern Bank Limited is going to use a revolving refinance fund amounting Tk 1,000 crore to support customers in technological development and upgradation of their export-oriented industries. 

The fund, formed from the Bangladesh Bank’s own resources, aims at supporting export-oriented industries to improve their skillset and preparing them to enjoy a competitive advantage in the international arena.

The authorities of EBL and BB have recently signed a participation agreement in this connection, said a press release on Sunday. 

Ali Reza Iftekhar, managing director and CEO of EBL, and Khondkar Morshed Millat, general manager of Sustainable Finance Department, Bangladesh Bank, signed the agreement on behalf of their respective organisations.

Ahmed Jamal, deputy governor, Shahidul Islam, executive director, and Abu Raihan, deputy director, from Bangladesh Bank; EBL deputy managing director and head of corporate banking Ahmed Shaheen and head of OBU and banks Fazlul Qader were present, among others, on the occasion.

The fund will be channelled by EBL to its customers at competitive pricing for development and upgradation of capital machinery and technology, energy-efficient machinery or technology, business process reengineering or automation-related machinery or technology, operations management-related machinery or technology, waste management machinery or technology, air management machinery or technology, heat management machinery or technology, workplace management machinery or technology, water management machinery or technology, human resource development and management-related upgraded technology and account, sales and marketing management automation machinery or technology upgradation.

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