30 Billion Refinancing Fund to Boost Agriculture in Northern Bangladesh

30 Billion Refinancing Fund for Agricultural Development in Northern Bangladesh: Bangladesh Bank Signs Agreement with Community Bank

Bangladesh Bank and Community Bank Bangladesh PLC have signed a participation agreement under Bangladesh Bank’s Tk 30 billion refinancing scheme aimed at developing an agriculture-based special economic hub in the northern region and expanding productivity and economic activities in the agricultural sector.

Dr Md Kabir Ahmed, Deputy Governor of Bangladesh Bank, attended the agreement signing ceremony as the chief guest. Executive Director Arif Hossain Khan was present as the special guest, while AKM Saiduzzaman, Director of the Agricultural Credit Department-2, chaired the event.

Community Bank Bangladesh PLC was represented at the ceremony by its Managing Director Mohammad Imtiaz Uddin and Sharif Hasan Mamun of the SME and Agriculture Division.

Under the refinancing facility, financing for agricultural production, storage, processing and marketing in northern Bangladesh will be expanded. The initiative will also focus on strengthening the Agri Value Chain of agricultural products.

The initiative is expected to increase financing opportunities for agriculture-based entrepreneurs, promote value addition to agricultural products, create new employment opportunities and accelerate overall economic activities in the northern region.

Stakeholders expressed hope that the refinancing facility will play an important role in accelerating the economic development of northern Bangladesh by utilising the region’s agricultural potential.