Jamuna Bank enters BB’s Tk 10,000cr agri refinance scheme

Jamuna Bank PLC has joined Bangladesh Bank’s Tk 10,000 crore refinance scheme aimed at boosting agricultural production, strengthening food security and supporting the rural economy.

AKM Saiduzzaman, director of the Agricultural Credit Department-2 of the central bank, and Md Shahidul Islam, deputy managing director and chief risk officer of Jamuna Bank, signed the agreement at the BB headquarters in Motijheel, Dhaka recently, according to a press release.

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Under the three-year revolving refinance scheme, financing will be available for a wide range of agricultural and rural activities, including crop production, fisheries, livestock, agricultural and irrigation machinery, and other income-generating activities.

Eligible farmers and customers will be able to access financing at a maximum simple interest rate of 8 percent per annum. Through its participation in the scheme, Jamuna Bank aims to expand access to affordable financing for farmers and rural entrepreneurs, helping increase agricultural production, generate employment and contribute to sustainable rural development.

Md Abu Bakkar Siddique, head of agricultural loans at Jamuna Bank PLC; Md Sakhawat Hossain, joint director-2 of the Agricultural Credit Department of the central bank; and Rafia Sultana, additional director, were also present at the signing ceremony.