ONE Bank PLC has signed a participation agreement with Bangladesh Bank under the Refinance Scheme for Tk3,000 crore to support the establishment of agriculture &agro-based special economic hub in Northern Bangladesh.
The initiative aims to strengthen the region’s agricultural ecosystem by enhancing production, storage, transportation, marketing, processing, supply chain management and export of agricultural products, while creating greater opportunities for rural enterprises and communities.
The agreement was signed at Bangladesh Bank’s head office recently.
In presence of Md Kabir Ahmed, deputy governor, Bangladesh Bank; Arief Hossain Khan, executive director, Bangladesh Bank; AKM Sayduzzaman, director, Agricultural Credit Department-2, Bangladesh Bank; and Shabbir Ahmed, acting managing director, ONE Bank PLC, signed the agreement on behalf of their respective organizations.
Md Monzil Yeadul Hossain, head of agriculture and NGO finance, ONE Bank PLC, along with other senior officials from both organizations, was also present at the ceremony.
Under the refinancing scheme, 15% of the total fund will be allocated to agricultural production, including crops, fisheries, livestock, agricultural machinery and rural credit activities.
Another 35% will support the storage, transportation and marketing of agricultural products, as well as related infrastructure development.
A further 35% will be allocated to the production and processing of agricultural goods, while the remaining 15% will support agricultural product exports and export-oriented activities.
The refinancing facility is expected to contribute to increased agricultural production and value chain management in Northern Bangladesh, while supporting agro-based cottage, micro, small and medium enterprises (CMSMEs), strengthening export-oriented agricultural production and supply chains, and creating employment opportunities in rural areas.
Through this refinancing scheme, ONE Bank will further strengthen its agricultural financing portfolio as well as CMSMEs and will ensure support to the growth of agriculture and agro-based businesses in Northern Bangladesh.
