NRBC Bank PLC has signed a pre-financing agreement with Bangladesh Bank under a Tk 2,000 crore fund aimed at supporting the country's export-oriented frozen food sector. The initiative is expected to boost production capacity, facilitate business expansion and strengthen the competitiveness of Bangladeshi frozen food products in international markets. Under the scheme, entrepreneurs involved in the production, processing and export of frozen shrimp, fish, fishery products and other frozen food items will have access to financing at concessional interest rates.
A.K.M Sayduzzaman Director of Agricultural Credit Department-2 of Bangladesh Bank, and Dr. Md. Touhidul Alam Khan, FCMA, Managing Director and CEO of NRBC Bank PLC, signed the agreement at Bangladesh Bank's Headquarters recently in the presence of Arief Hossain Khan, Executive Director of Bangladesh Bank, who attended the event as the chief guest. Md. Shaheen Howlader, DMD and CBO of NRBC Bank and Md. Ramjan Ali Bhuiyan, Head of the SME and Agri Business Department of the Bank, Muhammad Ansarul Kabir, Additional Director of Bangladesh Bank and Mrs. Tanjia Sultana, Joint Director of Bangladesh Bank, along with senior officials from both organizations, were also present at the signing ceremony.
Under the agreement, eligible customers will be able to obtain loans at an interest rate of up to 7 percent. The financing facility will support the procurement of raw materials for export-oriented frozen food products, commercial cultivation, modernization of processing facilities, purchase of necessary machinery, establishment of cold storage facilities and reopening of closed or partially operational processing plants.
The initiative is expected to ease financing constraints for exporters, encourage investment in the sector and create new opportunities for employment and export growth.
NRBC Bank has been working to support the growth of export-oriented industries and ensure easier access to finance for entrepreneurs through various financing initiatives. The bank expects its participation in the scheme to contribute to the expansion of the frozen food sector and the country's export potential.
