Trust Bank joins Tk 500 crore BB start-up refinancing fund

Trust Bank PLC has signed a participation agreement with Bangladesh Bank under a Tk 500 crore start-up refinancing fund, designed to nurture innovative entrepreneurs and support new business ventures in Bangladesh.

Muhammad Mustafizur Rahman, additional director at Bangladesh Bank, and Ahsan Zaman Chowdhury, managing director and chief executive of Trust Bank PLC, signed the agreement at the central bank's headquarters in the capital's Motijheel recently, according to a press release.

Under the agreement, Trust Bank will extend loans to start-up entrepreneurs on favourable terms using funds from Bangladesh Bank's refinancing facility.

In addition, entrepreneurs will receive training, technical assistance, and guidance to help them manage and expand their businesses.

The initiative is expected to enable young entrepreneurs to turn innovative ideas into reality, create new employment opportunities, strengthen the SME sector, and contribute significantly to the country's overall economic growth, the press release.