DHAKA, Dec 10, 2022 (BSS) - The BRAC Bank has reiterated its commitment to enhance agriculture financing to grassroots farmers and Agri entrepreneurs.

Taking part in Krishi Utshab 2022 in Gopalganj, the bank disbursed an open loan to five farmers. The bank has also introduced a specialized agriculture loan product styled 'Sufola' to increase the flow of credit to the rural agriculture sector.

'Sufola' has been specially designed to finance Bangladesh's crop sector, said a press release.

The fair took place at Bangabandhu Academy for Poverty Alleviation and Rural Development (BAPARD) at Kotalipara in Gopalganj from November 26-28, 2022.

BRAC Bank participated in the fair intending to drive financial literacy and capacity-building, disseminate information about agriculture financing among farmers and facilitate easy access to finance.

Syed Abdul Momen, deputy managing director & head of SME banking, BRAC Bank, participated in a panel discussion on "Transformation of Agriculture and Role of Banking Sector" at the KrishiUtshab on November 26, 2022.

Other panelists included Professor Emeritus Dr. M.A. Sattar Mandal, former Vice-Chancellor, Bangladesh Agricultural University; Syed Robiul Alam, director general, BAPARD; Dr. Nomita Halder, managing director, PKSF; Rayhanul Islam, additional director, agricultural credit department, Bangladesh Bank, Zaki Uz Zaman, UNIDO country representative; and Ashek Mahfuz, portfolio lead, Large Scale Food Fortification and Value Chain, GAIN Bangladesh.

Syed Abdul Momen said, "As an SME-focused bank, BRAC Bank always strives to expand its agriculture credit portfolio. Over the years, we've emerged as the country's largest collateral-free SME financier, where agriculture loan constitutes a significant portion. We have the financing solutions and extensive nationwide network to reach out to the grassroots farmers."

"We think agriculture financing adds great value to the economy, ensures financial inclusion and drives national development. This engagement with the farmers shows our strong commitment to agriculture financing and grassroots entrepreneurship development," he affirmed.