Bank Asia, WorldFish sign MoU on digital financial support to fish farmers

Bank Asia and WorldFish have signed an agreement on introducing a formal financial package for smallholders involved fish farming and aquaculture market actors in three southern districts – Jashore, Satkhira and Barisal with an aim to bring them under digital financial support network.

 Md Arfan Ali, President & Managing Director of Bank Asia, and Mr. Jon Thiele, Chief of Party, Feed the Future Bangladesh Aquaculture & Nutrition Activity signed the agreement on behalf of respective sides at a function held at the Worldfish office at Banani, Dhaka recently.

Under the project micro-loan will be provided to fish and aquaculture farmers at lower interest rate with flexible repayment terms and conditions. Besides, SME loans will be offered to the market actors -- input retailers, hatchery owners and feed sellers who have the closest link to the farmers, based on their (market actors) digital transaction history.

Bank Asia and USAID-funded Feed the Future Bangladesh Aquaculture and Nutrition Activity are co-financing the project.

 -rmc//