Prime Bank enters Tk 10,000cr farm refinance scheme of BB

Prime Bank PLC has signed an agreement with Bangladesh Bank to join the BB’s Tk 10,000 crore agricultural refinance fund aimed at ensuring food security, increasing agricultural production and creating new employment opportunities in the country.

M Nazeem A Chowdhury, additional managing director of Prime Bank PLC, and AKM Saiduzzaman, director of the Agricultural Credit Department-2 of Bangladesh Bank, signed the agreement at BB headquarters in Motijheel, Dhaka recently, according to a press release.

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Under Bangladesh Bank’s agricultural refinance fund, farmers and agricultural entrepreneurs will have access to loans at lower interest rates.

The initiative is expected to expand the scope of financing in the agricultural sector while further strengthening Prime Bank PLC’s capacity to finance agriculture and related enterprises, the release added.

Shahana Parvin, head of agro business at Prime Bank PLC; Rafia Sultana, additional director of the Agricultural Credit Department-2 of Bangladesh Bank; and Md Sakhawat Hossain, joint director, along with senior officials from both organisations, were also present at the signing ceremony.