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Mutual Trust Bank Limited (MTB) signed a Participating Agreement with Bangladesh Bank for Urban Building Safety Project.
A closing ceremony between Commercial Banks and Non-Bank Financial Institutions (NBFIs) and Bangladesh Bank (BB) for participating in JICA funded Two-Step Loan for private building safety was held at Jahangir Alam Conference Hall, Bangladesh Bank, Dhaka.
Under this project, JICA will provide Bangladesh a total of 4,129 million Japanese Yen to strengthen factories of RMG sector and private commercial buildings. The fund will in turn be on-lent to the Participating Financial Institutions, which would then re-lend the fund to end-borrowers through short-to long-term financing for retrofitting, rebuilding, relocation, fire safety and working capital facilities. A total of 35 Banks and NBFIs signed the agreement under this project.
Fazle Kabir, Governor, Bangladesh Bank was present as chief guest in the closing ceremony. BB’s Deputy Governor, Shitangshu Kumar Sur Chowdhury and Chief Representative of JICA Mission Bangladesh, Takatoshi Nishikata were also present at the occassion. Anis A. Khan, Managing Director & CEO, Mutual Trust Bank Limited, chief executives of related banks and NBFIs and other senior officials of Bangladesh Bank were present.
Honorable Governor highlighted the importance of the fund from Urban Building Safety Project which will play a vital role in meeting the growing demand for safe buildings and constructions. Anis A. Khan reiterated that the refinance facility from Bangladesh Bank would enable participating financial institutions to extend/offer low cost loan to their valued customers.