DHAKA : BRAC Bank and Bangladesh Bank have signed a
Participation Agreement under the central bank’s Tk 3,000 crore revolving Refinance
Scheme, a move aimed at creating a special agriculture-based economic centre in
northern Bangladesh.
The scheme seeks to increase agricultural production,
strengthen agricultural value chains, create employment, and support
income-generating activities in the districts under the Rajshahi and Rangpur
divisions, unlocking the region’s economic potential. From now, farmers can
access financing under the scheme at a maximum interest rate of 7%.
To support the entire agricultural journey, the scheme
will finance four key stages: production and preservation; transportation,
marketing and infrastructure; manufacturing and processing of agriculture-based
products; and finally, export.
From the fields to the factory floor, the facility is
designed to reach every corner of the agricultural economy, covering crop
production, fisheries, livestock, agricultural machinery, cold-chain
facilities, warehouses, food processing, dairy processing, seed production and
other agriculture-based industries.
The agreement was signed at a ceremony held at Bangladesh
Bank’s head office. Representing the central bank were Deputy Governor Dr. Md.
Kabir Ahmed, Executive Director and Spokesperson Arif Hossain Khan, and
Chowdhury Liakat Ali, Director of the Sustainable Finance Department, while
BRAC Bank was represented by Kazi Dilruba Akter, Head of SME Business Support,
and Liton Kumar Biswas, Senior Relationship Manager for MFI and Agriculture
Finance.
Backed by its focus on inclusive finance and agricultural
development, BRAC Bank’s participation in the scheme is set to support farmers,
rural entrepreneurs and agriculture-based businesses across the northern
region.
Syed Abdul Momen, Additional Managing Director and Head of
SME Banking at BRAC Bank, said, “The agricultural sector, especially our
farmers, is the driving force behind the country’s economic growth. At BRAC
Bank, we have always tried to finance them at a lower cost. Bangladesh Bank’s
refinance scheme will help us strengthen our agri-initiatives, giving farmers
easier access to the entire value chain, from financing to selling their final
products, and energising the rural economy.”
