The Bangladesh Bank has signed participation agreements (PAs) with 12 banks and two financial institutions (FIs) to operate its Technology Development Fund (TDF), a refinance scheme of Tk1,000 crore.

Earlier, the fund was launched in line with Export Policy 2018-21 to enhance competitiveness and sustainability of the export-oriented industries, said the central bank on Saturday.

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Bangladesh Bank Deputy Governor Abu Farah Md Nasser was present at the signing ceremony.

The central bank's Executive Director Nurun Nahar and General Manager of the Sustainable Finance (SDF) Department Khondkar Morshed Millat were also present at the event.

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The general manager of SFD and the chief executives of Agrani Bank, Bank Asia, Dhaka Bank, Modhumoti Bank, NCC Bank, One Bank, NRBC Bank, Standard Bank, Uttara Bank, Trust Bank, United Commercial Bank, Prime Bank, Lankabangla Finance and Lankan Alliance Finance signed the PAs on behalf of their organisations.