Citizens Bank joins Bangladesh Bank agriculture refinancing scheme
Citizens Bank PLC has joined Bangladesh Bank's refinancing scheme for the agriculture and rural sector to expand access to concessional loans for agricultural entrepreneurs and rural enterprises.
A participation agreement was signed at Bangladesh Bank's head office in Dhaka on 16 August by Citizens Bank Managing Director Alamgir Hossain and Bangladesh Bank Agricultural Credit Department-2 Director AKM Sayduzzaman, according to a press release.
Citizens Bank Deputy Managing Director Md Abdul Latif and Senior Vice President and Head of SMR and Marketing Division Bijoy Chandra Das attended the signing ceremony.
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Bangladesh Bank Agricultural Credit Department-2 Additional Director Rafia Sultana and other officials from both institutions were also present.
Under the agreement, agricultural entrepreneurs associated with Citizens Bank will have access to loans at concessional interest rates through Bangladesh Bank's refinancing scheme.
The initiative aims to facilitate affordable financing for agricultural entrepreneurs and rural-based enterprises, enabling them to expand their businesses, increase production capacity, and create employment opportunities, particularly in rural areas.
The facility is expected to support the sustainable growth of the agricultural sector by improving access to finance and strengthening rural economic activity.
Through its participation in the scheme, Citizens Bank reaffirmed its commitment to strengthening the country's agricultural sector, promoting rural development, and contributing to sustainable economic growth.
