Bangladesh Bank (BB) and Community Bank Bangladesh PLC have signed a participation agreement under a Tk 3,000 crore refinance fund to develop an agriculture-based special economic hub in northern Bangladesh and accelerate economic activity in the region. The agreement was signed on Aug 31, according to a press release.
Under the refinance facility, financing will be expanded for agricultural production, storage, marketing and processing in northern Bangladesh, with a focus on strengthening the agricultural value chain. The initiative is expected to expand financing opportunities for agriculture-based entrepreneurs, increase value addition in agricultural products, generate employment and stimulate broader economic activity across the region.
The agreement-signing ceremony was organised by Bangladesh Bank’s Agricultural Credit Department-2. Dr Md Kabir Ahmed, Deputy Governor of Bangladesh Bank, attended as chief guest, while Arif Hossain Khan, Executive Director of Bangladesh Bank, was the special guest. A K M Sayduzzaman, Director of Agricultural Credit Department-2, chaired the event.
Mohammed Emtiaz Uddin, Managing Director of Community Bank Bangladesh PLC, and Sharif Hasan Mamun of the bank’s SME & Agriculture Division represented Community Bank at the ceremony.
The initiative is also expected to establish a more integrated financing ecosystem covering the agricultural value chain from production and storage to processing and marketing. Bangladesh Bank said the approach would contribute to sustainable agricultural and economic development in northern Bangladesh.
