BRAC Bank has recently entered into a strategic partnership with Syngenta to offer agricultural financing solutions to marginal farmers across Bangladesh.
Syed Abdul Momen, Deputy Managing Director and Head of SME Banking of BRAC Bank, and Mohammad Hedayet Ullah, Managing Director of Syngenta Bangladesh, signed the agreement at a ceremony held at Syngenta’s headquarters in Dhaka on August 18 last, according to a press release Tuesday.
Under this partnership, BRAC Bank will provide digital micro-loans to farmers, leveraging its advanced technological capabilities and extensive SME banking network. The collaboration will also involve onboarding Syngenta’s input retailers, ensuring their access to essential financial services and products BRAC Bank offers.
Syngenta Bangladesh Limited is a leading agricultural company that helps farmers improve their crop yield and quality through innovative seed and crop protection solutions.
The initiative aims to foster an ecosystem that supports Micro, Small, and Medium Enterprises (MSMEs) like marginal farmers by integrating financial services with advanced agricultural technology.
BRAC Bank, a key player in this initiative, will launch the programme in Jashore, Rangpur, Dinajpur, and Cumilla, extending its banking and financial services to the listed farmers of Syngenta in line with the bank’s policy.
Kazi Halimur Rashid, Syngenta’s Head of Finance, Mohammed Jakirul Islam, Head of SME Strategy, Innovation and New Business, and Tapos Kumar Roy, Head of MFI and Agriculture Finance from BRAC Bank were present at the event. At the ceremony, they discussed the potential impact of this collaboration on the agricultural sector, particularly in uplifting the socio-economic status of marginal farmers.
The agreement underscores BRAC Bank and Syngenta’s commitment to contributing to the development of Bangladesh’s agricultural sector by enhancing access to finance and technology. It aligns with BRAC Bank’s mission to support sustainable development goals and enhance financial inclusivity across Bangladesh, particularly within the agricultural sector.
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