Bank Asia joins Tk10,000cr farm refinance scheme
Bank Asia PLC has signed a participation agreement with Bangladesh Bank under a Tk10,000 crore refinance scheme for the agricultural and rural sectors, expanding access to finance for farmers, rural entrepreneurs and businesses.
According to a press release, the signing ceremony was held at Bangladesh Bank on 19 August, with representatives from both institutions in attendance.
Bangladesh Bank Agricultural Credit Department-2 Director AKM Saiduzzaman chaired the programme, and Bank Asia Head of the Agricultural Credit Department, Shamim Ara Shimul, represented the bank.
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The scheme is designed to support agricultural production, strengthen food security, create employment opportunities in rural areas, and contribute to poverty reduction.
Eligible farmers and rural entrepreneurs can obtain financing under the scheme at a maximum annual interest or profit rate of 8%.
Bank Asia will distribute the loans through its branches, sub-branches, agent banking outlets, Union Digital Centres, Post Bank and group-based lending channels.
The bank said the initiative would bring formal financing closer to farmers and rural entrepreneurs, particularly those with limited access to conventional banking services.
