Staff Reporter, Dhaka : Mir Concrete Products has recently secured a loan of BDT 100 million from United Finance Ltd., a financial institution, for being a part of the green products manufacturing industry (concrete block, concrete brick, hollow block, pavement tiles, block unit, etc.)

Bangladesh Bank has taken several good initiatives to make green and sustainable finance more accessible. At the same time, they have designed a few refinancing facilities through which the manufacturers can avail funds at lower cost. Mir Concrete Products Ltd. has been sanctioned a Term Finance Facility of BDT 100 million by United Finance Ltd. under the refinancing scheme of “Environment Friendly Brick Production”.

The Term Finance Agreement signing ceremony was conducted at the Head office of Mir Group of Companies on 13th August 2023, between United Finance Ltd, and Mir Concrete Products Ltd. From Mir Concrete Products Ltd., Naba E Zaheer, Managing Director, Md. Miraj Uddin, Chief Financial Officer, Saiful Azam and Md. Khairuzzaman Shovon, Assistant Manager – Accounts and Finance were present at the ceremony. From United Finance Ltd., A. K. M. Sazzad Hossain, Head of Corporate & Structured Finance and Pritom Ghosh, Relationship Manager – Corporate & Structured Finance attended the signing ceremony.

Naba E Zaheer, Managing Director, Mir Concrete Products Ltd. said, “At Mir Concrete Products Limited, we’ve always recognized the importance of harmonizing industrial growth with ecological stewardship. In line with our honorable Prime Minister’s vision for a Smart Bangladesh, we are committed to reducing our carbon footprint and promoting eco-friendly practices. That is why, we have signed this strategic loan agreement with United Finance under Bangladesh Bank’s refinance scheme for green products and initiatives.”

The interest rate of this loan is the usual government rate. However, Bangladesh Bank will conduct an audit approximately within 3 months. Upon completion of the compliance, if the report is satisfactory, then the interest rate for Mir Concrete Product will be at a lower rate of 5.5%. The rest of the interest will be paid by Bangladesh Bank for the organization.