Prime Bank announces partnership with the USAID-funded Feed the Future Bangladesh Horticulture, Fruits, and Non-food Crops Activity

On August 25, 2021, Prime Bank announced a partnership with the USAID-funded Feed the Future
Bangladesh Horticulture, Fruits, and Non-food Crops Activity (the Horticulture Activity) for an
intervention on “Instant and Digital Access to Finance Through Prime Bank’s Agent Banking.” This
asserts Prime Bank’s ongoing drive for digital transformation in the financial sector.
The Horticulture Activity supports the Government of Bangladesh’s (GOB) food security objectives by
strengthening the private sector’s capacity to increase productivity and production of quality
horticulture, fruits, and non-food crops that meet domestic and international standards.
The objective of the partnership is to offer harvest-based loans for smallholder farmers & input retailers and introduce a digital application and an instant eligibility screening system to shorten loan
applications and processing times.
Mr. Marcos Moreno, the Chief of Party of the Horticulture Activity, commented: “We are excited to participate in this very innovative initiative. The Activity is motivated to add value to innovative solutions driven by private sector actors like Prime Bank. It looks forward to working in partnership to unlock the gap for the thousands of unbanked and underserved rural women and men involved in horticultural crops.”
Commenting on the partnership, Prime Bank’s Managing Director and CEO Hassan O. Rashid said:
“We are excited to partner with USAID, a leading development partner in the world. Prime Bank has
been working relentlessly to ensure greater financial inclusion through Agent Banking. A partnership like this is will be pivotal in achieving our mission in financial inclusion.”
About USAID:
The U.S. government, through USAID, has provided more than $8 billion in development assistance to
Bangladesh since its independence. Additionally, the U.S. government has committed $96 million of
assistance from multiple agencies to support COVID-19 response efforts. In 2020, USAID alone
provided over $200 million to improve the lives of people in Bangladesh through programs that expand food security and economic opportunity, improve health and education, promote democratic institutions and practices, protect the environment, and increase resilience to climate change.
About Prime Bank Limited:
Prime Bank Limited, traded as ‘PRIMEBANK’ on Dhaka Stock Exchange, has been one of the country’s fastest growing banks with consistent financial performance since 1995. The bank remains in the forefront of innovative solutions aided with new technology and fintech solutions. The bank plays catalytic role in industrialization of the country through its Corporate Financing. With 146 branches, 170 ATM and powered by more than 3,100 passionate employees, the bank has established its unique mark in Consumer, SME Banking and Treasury Segments. Its `AA’ credit rating, ICAB, ICMAB, SAFA Awards and strong commitment to sustainability speak of its good governance compliance, transparency and accountability. For more information, please visit Follow Prime Bank on Facebook and LinkedIn.