Padma Bank to Collaborate with Bangladesh Bank to Increase Food Production

Padma Bank Limited will provide loans at 4 percent interest to increase production in the agricultural sector as well as ensuring food security for the country. This loan will be given under the fund titled “5000 crore refinancing scheme for agriculture sector to ensure food security of the country” formed by Bangladesh Bank. Recently, Padma Bank has signed a participation agreement with Bangladesh Bank to disburse the loans on easy terms.

Director of the Agriculture Credit Division of the central bank, Abul Kalam Azad, and Faisal Ahsan Chowdhury, Managing Director (Current Charge) of Padma Bank, signed the agreement on behalf of their respective organizations in the presence of Governor Abdur Rauf Talukdar in the Jahangir Alam Conference Hall of Bangladesh Bank’s head office.

Deputy Governor of Bangladesh Bank AKM Sajedur Rahman Khan and Executive Director of the Agricultural Credit Department Md. Anwarul Islam, and senior officials of both organizations, were present on the occasion.

Farmers can take out loans for paddy cultivation, fisheries, vegetables, fruit, and flower cultivation, poultry production, and dairy production under the livestock sector. Padma Bank will disburse this loan at the farmer’s level.

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