Bangladesh Bank and Mercantile Bank PLC signed a participatory agreement to form a Tk3,000 crore refinancing fund to establish agriculture-based special economic zones in the northern region of the country.
The agreement signing ceremony took place on August 31, at the head office of Bangladesh Bank.
Bangladesh Bank deputy governor Md Kabir Ahmed, executive director Arief Hossain Khan, and Agricultural Credit Department-2 director AKM Saiduzzaman were present at the event.
Representing Mercantile Bank were DMD & CBO Md Zahid Hossain and head of Agricultural Credit Division Md Sajjadur Rahman, along with other senior officials.
This agreement will create new opportunities for easy-term financing for farmers, agri-entrepreneurs, and agro-processing industries in North Bengal.
It is expected to play a vital role in increasing local employment and driving overall economic development.