City Bank signs MOU with Bangladesh Bank on developing SMEs further
City Bank recently signed an MOU with Bangladesh Bank regarding refinance scheme of the 2nd phase of the Small and Medium Enterprise Development Project (SMEDP-2) at the Bangladesh Bank Head Office. Asian Development Bank and the Bangladesh Government have jointly allocated US $ 240 million to finance this project.
Sohail R. K. Hussain, MD and CEO, City Bank and Md. Abul Bashar, General Manager, Financial Inclusion Department, Bangladesh Bank and Project Director, SMEDP-2 signed the agreement on behalf of the respective institutions. Bangladesh Bank Deputy Governor SK Sur Chowdhury was present as the chief guest. Among others present at the ceremony were Kamrul Mehedi, Head of Small Business of City Bank and senior officials from both the organizations.