Bangladesh Infrastructure Finance Fund Limited (BIFFL) has signed a participation agreement with Bangladesh Bank (BB) under refinance Scheme for green products on January 03 at Bangladesh Bank office.
The participation agreement was signed by S. M. Formanul Islam, Executive Director and CEO and Manoj Kumar Biswas, General Manager of Sustainable Finance Department of Bangladesh Bank on behalf of their respective organisations, said a press release.
BB introduced a refinancing scheme of Tk 200 crore to offer as refinance facility against the Bank or financial institution’s financing to promote green products or initiatives in Bangladesh.
The rate of interest for the participatory financial institutions (PFIs) will be equal to the bank rate (currently 5%) for the refinancing facility. For the borrowers, it will be bank rate plus margin where the margin can be up to 4% maximum based on the tenor of the loan repayment.
Md. Abdul Kader, deputy general manager of Sustainable Finance Department of Bangladesh Bank and Mohammad Sagir Hossain Khan, COO of BIFFL were also present on the occasion.
BIFFL, being the largest financial institution of the country, is committed to support green initiatives to uphold sustainable development in Bangladesh, BIFFL is also committed to protect environment and adopt eco-friendly measures which are of its foremost priority while considering any investment transaction.