Citizens Bank to support northern agriculture under BB’s Tk 3,000cr scheme

Citizens Bank PLC has signed a participation agreement with Bangladesh Bank under the central bank’s Tk 3,000 crore refinancing scheme to support agriculture and agro-based special economic hubs in northern Bangladesh.

Alamgir Hossain, managing director of Citizens Bank PLC, and AKM Saiduzzaman, director of the Agricultural Credit Department-2 of Bangladesh Bank, signed the agreement at BB headquarters in Motijheel, Dhaka recently, according to a press release.

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Md Kabir Ahmed, deputy governor of Bangladesh Bank, attended the signing 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 exports.

It will also create greater opportunities for rural businesses and communities to expand their economic activities.

Through the refinancing scheme, Citizens Bank PLC will further enhance its support for the agriculture sector and cottage, micro, small and medium enterprises, contributing to the development of agro-based enterprises, rural economic empowerment and sustainable economic growth across northern Bangladesh.

Arief Hossain Khan, executive director of Bangladesh Bank, and Bijoy Chandra Das, senior vice-president and head of the SMR and marketing division of Citizens Bank PLC, along with other senior officials from both institutions, were also present at the signing ceremony.