Facilitating long-term investment

BB inks deals with 4 pvt banks

Bangladesh Bank yesterday signed separate agreements with four private banks to facilitate long-term financing under the World Bank-funded Financial Sector Support Project (FSSP), reports UNB.
Under the agreements, the four banks- Prime Bank, One Bank, Al Arafah Islami Bank and Mutual Trust Bank- can go for long term financing of projects in industrial sector receiving support from the fund. More private sector banks are likely to sign the similar "participating agreements" with the central bank under the project.
Addressing the agreement signing ceremony at the central bank, its governor Atiur Rahman said that the World Bank will provide $300 million under the FSSP which will play vital role in meeting the growing demand for long term financing of different projects in the country.
The prevailing dearth in investment in the country will go away and many entrepreneurs will come forward to take the opportunity of this fund, he hoped. Under FSSP fund, the bank can lend money for projects in the industrial production sector for tenure of 5-10 years.

Facilitating long-term investment

BB inks deals with 4 pvt banks

Bangladesh Bank yesterday signed separate agreements with four private banks to facilitate long-term financing under the World Bank-funded Financial Sector Support Project (FSSP), reports UNB. Under the agreements, the four banks- Prime Bank, One Bank, Al Arafah Islami Bank and Mutual Trust Bank- can go for long term financing of projects in industrial sector receiving support from the fund. More private sector banks are likely to sign the similar participating agreements with the central bank under the project. Addressing the agreement signing ceremony at the central bank, its governor Atiur Rahman said that the World Bank will provide $300 million under the FSSP which will play vital role in meeting the growing demand for long term financing of different projects in the country. The prevailing dearth in investment in the country will go away and many entrepreneurs will come forward to take the opportunity of this fund, he hoped. Under FSSP fund, the bank can lend money for projects in the industrial production sector for tenure of 5-10 years.