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The char regions, characterized by their remoteness and vulnerability to climate impacts, are home to over 2.7 million people whose lives are marred by limited access to financial and agricultural services. The collaboration between M4C and BRAC Bank PLC embodies a shared commitment to changing these narratives by providing the char communities with sustainable economic opportunities through improved formal banking services.
Key Objectives and Milestones of the Partnership include launching agent banking points in Fulchori Char, Fulchori Upazila, Gaibandha, aiming to bridge the gap between formal banking services and char dwellers. Provision of tailored financial products that will extend at least 70 loans to residents and entrepreneurs in Fulchori Char, with plans to broaden the scope of services across other chars progressively. Empowerment through education with a series of promotional and educational activities focused on agent banking and financial literacy will be conducted, empowering the community to leverage these new services for their betterment.
This partnership extends beyond the conventional bounds of an agreement; it is a testament to the powerful synergy between M4C, BRAC Bank PLC, and their allies in striving for a future where the char communities are no longer sidelined but are active participants in Bangladesh’s economic narrative. By facilitating access to formal financial services, this initiative is poised to play a pivotal role in mitigating poverty and enhancing the resilience of the char regions against socio-economic challenges.
Among the eminent attendees were Selim R. F. Hussain, the Managing Director and Chief Executive Officer of BRAC Bank, alongside Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, and Sabbir Hossain, Deputy Managing Director and Chief Operating Officer. From the esteemed Embassy of Switzerland in Bangladesh were present Rebecca Bucherer, Regional Advisor and First Secretary, and Syeda Zinia Rashid, PhD, Senior Programme Officer. Additionally, representing Swisscontact were Mujibul Hasan Cezanne, Country Director, and Abdul Awal, Team Leader for M4C.
M4C is committed to monitoring the progress of this partnership closely and sharing updates on its impact and the lessons learned along the way. This initiative is a significant step towards our mission of fostering sustainable economic growth and financial inclusion across Bangladesh’s most vulnerable communities.
M4C is a project mandated by the Embassy of Switzerland in Bangladesh and the Ministry of Local Government, Rural Development and Cooperatives implemented by Swisscontact and Rural Development Academy, Bogura.
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