Bangladesh Bank has signed participation agreements with 16 scheduled banks and four financial institutions under its Tk 500-crore refinance fund to expand low-cost loans and investments for startup entrepreneurs.Bangladeshi cuisine recipes

Governor Dr Ahsan H Mansur joined the signing ceremony virtually, while Deputy Governor Nurun Nahar and Executive Director Husne Ara Shikha attended it in person at the central bank headquarters on Tuesday.

On behalf of BB, Mohammad Mostafizur Rahman, director of the SME and Special Programs Department, signed the agreements with managing directors of the participating banks and financial institutions.

As per the central bank`s master circular issued on July 9, entrepreneurs can now avail refinance loans and investments at a maximum interest/profit rate of 4%.

The circular also raised loan ceilings for startups, setting limits between Tk 2 crore and Tk 8 crore.

The meeting also discussed the formation of an equity investment company involving 52 partner banks to strengthen startup financing.

Officials said the initiative comes as startups increasingly drive innovation, create jobs and attract global investment linkages in line with the Sustainable Development Goals.

The central bank hoped that the refinements will ease financing for promising ventures while accelerating the sustainable growth of the startup ecosystem.