Citizens Bank PLC has signed a Participation Agreement with the Agricultural Credit Department-2 of Bangladesh Bank at the central bank’s head office in Dhaka under the “Tk3,000 Crore Refinancing Scheme to Support Agriculture and Agro-Based Special Economic Hubs in Northern Bangladesh.”
The agreement was signed by Citizens Bank PLC Managing Director Alamgir Hossain and AKM Sayduzzaman, director of the Agricultural Credit Department-2 of Bangladesh Bank, on behalf of their respective organisations, reads a press release.
Md Kabir Ahmed, deputy governor of Bangladesh Bank, was present at the signing ceremony.
Arif Hossain Khan, executive director of Bangladesh Bank, and Bijoy Chandra Das, senior vice president and head of the SMR & Marketing Division of Citizens Bank PLC, along with other senior officials from both institutions, also attended the ceremony.
The initiative aims to strengthen the agricultural value chain in Northern Bangladesh by facilitating financing for key sectors, including agricultural production, storage, transportation, processing, marketing and export.
The scheme will also create greater opportunities for rural businesses and communities to expand their economic activities.
Through the refinancing scheme, Citizens Bank PLC will further strengthen its support for the agriculture sector and CMSMEs, contributing to the development of agro-based enterprises, rural economic empowerment and sustainable economic growth across Northern Bangladesh.
