BRAC Bank has teamed up with Rural Reconstruction Foundation (RRF) to provide credit facility to marginal farmers recently.
This partnership is a result of the agreement between BRAC Bank and the United States Agency for International Development (USAID) Feed the Future (FtF) Bangladesh Rice and Diversified Crops (RDC) Activity to support the farmers, said a press release.Both parties agreed to disburse loans through the Microfinance Institutions (MFIs) network for the project, and thus, RRF has come on-board, said a press release.
The agreement will lead RRF to provide a fresh credit facility to 1,000 farmers, including 800 female farmers, in the USAID FTF zone.
BRAC Bank will ensure necessary financial services to RRF for providing an uninterrupted credit facility to the farmers in 21 districts under the FTF zone.
Through this agreement, the bank aims to provide financial services in the form of credit for crops which fall under profitable rice-based cropping pattern in the FTF zones.