Dhaka, Saturday, June 15, 2024: BRAC Bank PLC has partnered strategically with WeGro Technologies Limited to facilitate financing for smallholder farmers across Bangladesh.

This collaboration aims to provide affordable loans to farmers, empowering them to enhance their agricultural projects and contribute to the country’s agricultural development.

WeGro Technologies, a pioneer in providing innovative financial solutions, operates across 29 zones in Bangladesh. Since its inception in 2021, WeGro has successfully connected institutional financiers with over 5,000 farmers, offering them access to finance, quality inputs, and markets.

The agreement was signed at an event held at BRAC Bank’s Head Office on May 15, 2024. Syed Abdul Momen, Deputy Managing Director and Head of SME Banking; Indrajit Sur, Head of Emerging Corporate; Nazrul Islam, Head of Small Business (South); Mohammed Jakirul Islam, Head of SME Strategy, Innovation & New Business; and other officials represented BRAC Bank at the event. 

From WeGro Technologies’ end, Mahmudur Rahman, CEO; Md. Alvi Rahman, COO; Monjurul Mannan, Finance Lead; Ilham Hasan Chowdhury, Business Partner, Strategy & FP&A; were present.

The partnership between BRAC Bank and WeGro Technologies is a significant step towards supporting smallholder farmers with access to finance and other benefits. This collaboration will not only promote sustainable agricultural practices but also drive economic growth in rural areas, thereby making a substantial contribution to the agricultural sector in Bangladesh.

Syed Abdul Momen expressed his optimism about the partnership, saying, “This collaboration with WeGro Technologies is a significant step towards empowering smallholder farmers by providing them with the financial resources they need. BRAC Bank is committed to supporting the agricultural sector, and this partnership will help us reach more farmers, ensuring they have access to affordable financing and opportunities for growth. This will ensure sustainability and contribute to the national economy.”