TBT DESK, Rajshahi: Farmers and agri-entrepreneurs in the climate-stressed Barind region have urged financial institutions to introduce collateral-free and customised loan products, specifically aligned with their agricultural cycles and processing needs, such as mango cultivation and value addition.

This demand resonated at a high-profile workshop held in Rajshahi on July 23, where representatives from leading banks acknowledged the necessity for reform and pledged to develop innovative, crop-specific financing options. The event— “Credit Underwriting and Financial Linkage for Farmers and Entrepreneurs”—was organised by Sustainable Agriculture Foundation Bangladesh (SAF Bangladesh), under the HSBC-supported CRAAB (Climate Resilient Agricultural Advancement in Barind) Project.

Devesh Mathur, Chief Operating Officer of HSBC Bangladesh, underscored the bank’s long-term commitment to sustainability, noting that supporting Barind’s agricultural advancement is integral to their corporate goals. Syeda Afzalun Nessa, Head of Sustainability at HSBC, reinforced this stance, assuring continued efforts to reduce climate-related vulnerabilities in the region.

Bangladesh Bank, Rajshahi region officials offered encouraging responses. As the chief guest, Executive Director Md. Mezbaul Haque reiterated the central bank’s commitment to inclusive financing, highlighting loans for rural farmers at concessionary rates as low as 4%. His colleague Shamsul Arefeen, Director, further announced the ongoing development of a specialised agricultural loan product, and called on banks and microfinance institutions to strengthen partnerships for greater community impact. He also acknowledged that more effort is needed to inform farmers about available financial products. He thanks HSBC and SAF Bangladesh for this timely initiative at this rural level.

Bridging the knowledge gap was central to the workshop, which featured a financial literacy session led by Professor Dr. Kamruzzaman of Rajshahi University. He emphasised the importance of continuous engagement to empower rural stakeholders with critical financial planning and savings know-how.

During an open forum, farmers and business owners voiced frustrations over bureaucratic loan procedures and the lack of lending products suited to seasonal farming needs. Representatives from Sonali Bank, RAKUB, BRAC Microfinance, and BURO Bangladesh responded positively, vowing to consider seasonal and crop-based credit schemes.

Md. Farhad Zamil, Executive Director of SAF Bangladesh, highlighted the necessity of building strong financial and market linkages to boost farmer productivity and income.

The CRAAB project received strong endorsement from Dr. Md. Azizur Rahman, Additional Director at the Department of Agricultural Extension (DAE) in Rajshahi, who called for its expansion across all 37 upazilas under his jurisdiction, citing its proven capacity to promote rural development and job creation.

Md. Akramul Haque, CEO of DASCOH, the co-implementing organization of CRAAB Project, thanks all participants for their dedicated engagement in this event. The workshop concluded with a unified pledge from stakeholders to advance financial inclusion and drive sustainable agricultural growth in the Barind region.