Dhaka, Bangladesh (BBN) – The central bank of Bangladesh has started disbarment process of its US$200 million green fund through signing deals with six banks, officials said.
As part of the move, the Bangladesh Bank (BB) signed separate agreements with six private banks on December 01 last to facilitate fund for long-term financing under the “Green Transformation Fund for Export-oriented Textile and Textile Products and Leather Manufacturing Industries”.
Under the agreements, the six banks -Eastern Bank Limited, Jamuna Bank Limited, Mercantile Bank Limited, Prime Bank Limited, Shahjalal Islami Bank Limited and South East Bank Limited- would provide long-term financing for transforming the export-oriented industries into green industries.
BB’s Deputy Governor SK Sur Chowdhury presided over the agreement signing ceremony while General Manager of Sustainable Finance Department Manoj Kumar Biswas, chief executives of related banks and senior officials of the BB were present.
The central bank earlier formed the fund with its own resources for lending to participating financial institutions as refinancing to the eligible manufacturer-exporters in export oriented textile and textile products and leather manufacturing sectors for import of capital machinery and accessories for the environment friendly projects.