Refinance agreement between BIFFL and Bangladesh Bank for Green Products/ initiatives
Bangladesh Infrastructure Finance Fund Limited (BIFFL) has signed a Participation Agreement with Bangladesh Bank (BB) under “Refinance Scheme for Green Products/Initiatives” on 03 January 2019 at Bangladesh Bank. The participation agreement was signed by Mr. S. M. Formanul Islam, Executive Director & CEO and Mr. Manoj Kumar Biswas, General Manager, Sustainable Finance Department, Bangladesh Bank on behalf of their respective organizations.
BB introduced a refinancing scheme of Tk. 200.00 crore to offer as refinance facility against the Bank/ Financial Institution’s financing to promote green products/ 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.
Mr. Md. Abdul Kader, Deputy General Manager, Sustainable Finance Department, Bangladesh Bank and Mr. Mohammad Sagir Hossain Khan, COO, 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.