Mercantile Bank, BRAC ink Tk 1.0b term-loan deal
Thursday, 13 September 2007
FE Report
Mercantile Bank Limited has extended Tk 1.0 billion term-loan facility to BRAC, a non-governmental organisation (NGO).
In this connection, an agreement was signed between the two organisations in the city Tuesday, said a press release.
Deputy Managing Director of the bank MA Shahjahan and Director (Finance) of the BRAC SN Kairy signed the agreement on behalf of their respective organisations.
BRAC would disburse the money among the landless and poor farmers of the country under its various micro-credit schemes, which may strengthen the rural economy of the country, the release stated.
Among others, Consultant of the bank Rabiul Hussain was present at the agreement signing ceremony.
Mercantile Bank Limited has extended Tk 1.0 billion term-loan facility to BRAC, a non-governmental organisation (NGO).
In this connection, an agreement was signed between the two organisations in the city Tuesday, said a press release.
Deputy Managing Director of the bank MA Shahjahan and Director (Finance) of the BRAC SN Kairy signed the agreement on behalf of their respective organisations.
BRAC would disburse the money among the landless and poor farmers of the country under its various micro-credit schemes, which may strengthen the rural economy of the country, the release stated.
Among others, Consultant of the bank Rabiul Hussain was present at the agreement signing ceremony.