PHOTO: ALLIANCE FINANCE

Shahanur Rashid, head of business at Alliance Finance PLC, and Nawshad Mustafa, director of the SME and Special Programmes Department of the Bangladesh Bank, pose for a photograph after signing the agreements at the BB headquarters in Motijheel, Dhaka recently.

STAR BUSINESS DESK

Alliance Finance PLC, a joint venture finance company between Sri Lanka and Bangladesh, has signed two participatory agreements with Bangladesh Bank under the BB’s Cluster Finance Refinance Scheme and the Financial Sector Fund for the development of cottage, micro, small and medium enterprises (CMSMEs), aimed at strengthening financing support for the sector across the country.

Nawshad Mustafa, director of the SME and Special Programmes Department of the Bangladesh Bank, and Shahanur Rashid, head of business at Alliance Finance PLC, signed the agreements at the BB headquarters in Motijheel, Dhaka recently, according to a press release.

Under the agreements, Alliance Finance will provide term loans and working capital support to entrepreneurs in various industrial clusters under the Bangladesh Bank’s Tk 3,000 crore Cluster Finance Refinance Scheme and the Tk 1,500 crore Financial Sector Fund for the development of micro, small and medium enterprises (MSMEs).