Pubali Bank joins Tk3,000cr refinance fund for northern agricultural hubs
Pubali Bank PLC has joined Bangladesh Bank's Tk3,000 crore refinance fund to support agriculture-based specialised economic hubs in northern Bangladesh and accelerate agricultural and rural economic activities.
The bank signed a participation agreement with the central bank to this end.
Deputy Governor of Bangladesh Bank Dr Md Kabir Ahmed attended the signing ceremony as the chief guest at the central bank's head office. According to a press release, Executive Director and Spokesperson Arif Hossain Khan attended as the special guest.
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Director of the Agricultural Credit Department-2 of Bangladesh Bank AKM Saiduzzaman presided over the ceremony.
General Manager and Head of the CMSME Division of Pubali Bank PLC, Chowdhury Abdul Waheed, represented the bank at the signing ceremony. Other senior officials from Bangladesh Bank and Pubali Bank also attended.
Bangladesh Bank established the refinance fund to enhance agricultural productivity in the northern region, expand post-harvest management and storage facilities, and strengthen the processing and marketing of agricultural products.
The fund also aims to develop agriculture-based industries and the cottage, micro, small and medium enterprise (CMSME) sector through an effective agricultural value chain. Its key objectives include strengthening agricultural supply chains, enhancing export potential and increasing rural employment and income. Financing will be expanded across the districts of Rajshahi and Rangpur divisions for agricultural production, fisheries and livestock development, and the storage, marketing and processing of agricultural products. It will also cover agriculture-based industries and CMSME initiatives.
Pubali Bank said its participation would strengthen its role in expanding access to financing for farmers, agriculture-based entrepreneurs and the CMSME sector in northern Bangladesh.
The initiative is expected to increase agricultural production, develop modern agriculture-based industries, strengthen supply chains, and create new employment opportunities while strengthening the country's food security and supporting a sustainable rural economy.
