BRAC Bank has signed an agreement with WeGro Technologies Ltd to facilitate financing for smallholder farmers across Bangladesh.

This deal aims to provide affordable loans to farmers, empowering them to enhance their agricultural projects and contribute to the country's agricultural development, according to a press release.

WeGro Technologies operates across 29 zones in Bangladesh. Since its inception in 2021, it has connected institutional financiers with over 5,000 farmers.

The agreement was signed at an event at BRAC Bank's head office in Dhaka recently.

Syed Abdul Momen, deputy managing director and head of SME Banking of BRAC Bank, Indrajit Sur, head of Emerging Corporate, Nazrul Islam, head of Small Business (South), and Mohammed Jakirul Islam, head of SME Strategy, Innovation and New Business, were present's on the bank's behalf.

From WeGro, Mahmudur Rahman, chief executive officer, Md Alvi Rahman, chief operating officer, Monjurul Mannan, finance lead, Ilham Hasan Chowdhury, business partner, Strategy & FP&A, were present.

Syed Abdul Momen expressed optimism about the partnership, saying: "This collaboration with WeGro will help us reach more farmers, ensuring they have access to affordable financing and opportunities for growth."