Bangladesh, Oct. 7 -- Shimanto Bank PLC has signed a participatory agreement with Bangladesh Bank to facilitate financing for the development of the ICT sector at concessional interest rates and on simplified terms.

Under the scheme, entrepreneurs will be eligible for loans of up to Tk 50 crore at a 4 per cent annual interest rate, with a maximum repayment tenure of 10 years, according to a press release.

The scheme aims to promote the development of the IT sector by supporting entrepreneurs and expanding access to affordable financing.

AKM Nurunnabi, director of the Sustainable Finance Department at Bangladesh Bank, and Md Nurul Azim, managing director and CEO of Shimanto Bank PLC, signed the agreement on behalf of their respective o...