Modhumoti Bank PLC has signed an agreement with Bangladesh Bank to participate in the Tk10,000 crore Refinance Scheme for the Agricultural and Rural Sector.
The initiative is aimed at increasing agricultural production and generating employment across the country, reads a press release.
The signing ceremony was held at the Head Office of Bangladesh Bank on Monday.
Under the terms of this agreement, Modhumoti Bank PLC will extend financing facilities at a concessional interest rate of 8% per annum (p.a.) to Agri customers under the refinance schemes of Bangladesh Bank.
This financial support is expected to contribute directly to the growth and development of the agricultural sector.
Representing their respective organisations Deputy Managing Director and Chief Business Officer of MMBPLC Arab Fazlur Rahman, and Director of ACD-2 AKM Sayduzzaman were present to sign the agreement on behalf of their respective institutions.
Other key attendees at the signing ceremony included, Bangladesh Bank Additional Director Rafia Sultana, and Modhumoti Bank PLC CMSME Business Support Head Zahid Al Muntasir.
