Mercantile Bank joins Tk 500 crore BB startup refinancing fund

Mercantile Bank PLC has signed a partnership agreement with Bangladesh Bank under a Tk 500-crore startup refinancing fund aimed at fostering innovation and supporting new entrepreneurs across the country.

Mohammad Mostafizur Rahman, additional director of Bangladesh Bank, and Matiul Hasan, managing director of Mercantile Bank PLC, signed the agreement at the central bank's headquarters in the capital's Motijheel recently, said a press release.

Through this collaboration, Mercantile Bank will provide financing to eligible startups to stimulate economic growth, generate employment opportunities, and empower the next generation of innovators and business leaders.

Bangladesh Bank Governor Ahsan H Mansur joined the event virtually.

Nurun Nahar, deputy governor of Bangladesh Bank; Husne Ara Shikha, executive director; and Md Mostahidur Reza Chowdhury, head of SME at Mercantile Bank; along with other senior officials from both organisations, were also present.