BB to fund small manufacturing companies
BSS
BB will provide long-term financing in foreign currency under the Financial Sector Support Project (FSSP) mainly for small and medium scale manufacturing enterprises in the country, reports BSS.
The financing would be provided to the eligible banks, namely the Participating Financial Institutions (PFIs), for lending and refinancing to the eligible firms, BB said in a circular.
BB also called upon the interested banks to apply to the Project Director (PD) of FSSP for participating in the financing facility.
The government has signed a Financing Agreement (FA) on June 30, 2015 with the International Development Association (IDA) regarding implementation of the Financial Sector Support Project (FSSP).
The objective of the project is to improve financial market infrastructure of the country, regulatory and oversight capacity of BB and access to long-term financing mainly for manufacturing firms in Bangladesh.
BB has also signed a Project Agreement (PA) with the IDA on the same date to carry out the tasks for implementation of the project.
