Bank Asia PLC has signed a participation agreement with Bangladesh Bank to expand access to finance for farmers, rural entrepreneurs and businesses under the Tk10,000 crore refinance scheme for the agriculture and rural sectors.
The agreement signing ceremony was held at Bangladesh Bank on August 19.
AKM Saiduzzaman, director, Agricultural Credit Department-2, Bangladesh Bank, chaired the program, while Shamim Ara Shimul, head of agricultural credit department, attended the program as representative of Bank Asia.
The scheme has been designed to support agricultural production, strengthen food security, create more employment opportunities in rural areas and contribute to poverty reduction.
Under the scheme, eligible farmers and rural entrepreneurs will be able to avail financing at a maximum interest/profit rate of 8% per annum.
Bank Asia will distribute the loans through its branches, sub-branches, agent banking outlets, Union Digital Centers, Post Bank and group-based lending channels, aiming to bring formal financing closer to farmers and rural entrepreneurs, particularly those with limited access to traditional banking services.
