Southeast Bank Limited signed a participatory agreement with Bangladesh Bank at the head office of the central bank to avail of refinancing facility for Small and Medium Enterprises Financing on Sunday. Mr. Mahbubul Alam, Managing Director of Southeast Bank Limited and Mr Sukamal Sinha Choudhury, General Manager, SME & Special Programs Department of BB signed the agreement on behalf of respective sides. Mr. Md. Harunur Rashid Chowdhury, Executive Director of Bangladesh Bank presided over the meeting.

Through this agreement Southeast Bank will be able to avail refinancing facility from an ADB supported fund amounting USD 95.00 million equivalent to Tk 6.67 billion. Bangladesh Bank has been entrusted with the responsibility to administer the fund. The fund will help Southeast Bank to widen and expand its SME lending program in rural and semi urban areas at a subsidized rate.

Senior officials of SME and Special Programs Department of Bangladesh Bank attended the ceremony. From Southeast Bank Mr. Mohammed Gofran, Deputy Managing Director, Mr. Panu Ranjan Das, Vice President, Mr. M.M. Khaled Omar, Senior Assistant Vice President & Head of SME, Mr. Donald Rosette, Assistant Vice President and Head of R&D were also present.

Source: Financial Express/Bangladesh/24 Jan 2011