IFIC Bank PLC has signed an agreement with Bangladesh Bank to participate in the BDT 3,000 crore refinance scheme established by Bangladesh Bank with the objective of creating agriculture-based special economic zones in the northern region of Bangladesh and strengthening agricultural production, storage, marketing, processing, and export activities.
The agreement was signed on Monday (31 August 2026) at Bangladesh Bank’s Head Office in the presence of Deputy Governor of Bangladesh Bank Dr. Md. Kabir Ahmed and Executive Director Mr. Arif Hossain Khan. On behalf of IFIC Bank PLC, the agreement was signed by Managing Director Mr. Syed Mansur Mustafa, while Director of Agricultural Credit Department-2 of Bangladesh Bank Mr. AKM Saiduzzaman signed on behalf of Bangladesh Bank. Chief of Branch Business of IFIC Bank PLC Mr. Helal Ahmed, along with senior officials from both organizations, were present at the ceremony.
Under the refinance scheme, 15% of the total fund has been allocated for agricultural production, including crop cultivation, fisheries, livestock, agricultural machinery, and rural credit activities. Another 35% has been allocated for agricultural product storage, transportation, marketing, and infrastructure development, while a further 35% will be utilized for agricultural product manufacturing and processing. The remaining 15% has been allocated for financing agricultural product exports and export-oriented activities.
The objective of this refinance facility is to increase agricultural production and value addition in northern Bangladesh, support cottage, micro, small, and medium enterprises (CMSMEs) in the agriculture sector, strengthen export-oriented agricultural production and supply chains, and create employment opportunities in rural areas.
Through its extensive branch and sub-branch network across the country, IFIC Bank PLC continues to work towards ensuring access to essential banking and financial services for rural customers. Participation in this refinance scheme will further expand the bank’s financing support in the agriculture sector and strengthen its contribution towards financial inclusion and sustainable economic development of Bangladesh.