Bangladesh Bank visits special project of wheat cultivation instead of tobacco funded by UCB at Lalmonirhat
Abu Farah Md Nasser, Deputy Governor of Bangladesh Bank, visited United Commercial Bank (UCB) PLC's agricultural support scheme titled 'Bhoroshar Notun Janala.'
Central Bank Deputy Governor visited East Harinchara of Lalmonirhat to inspect the progress of the ongoing project, implemented by the Rural Development Academy (RDA), Bogura's Char Development Research Center (CDRC), and funded by UCB, earlier today (9 October), reads a press release.
High officials from UCB were also present at the site. The Deputy Governor, present as Chief Guest, inaugurated the new solar irrigation pump and a resting shade within the project area during this visit.
Keep updated, follow The Business Standard's Google news channel
As per the directives of Bangladesh Bank, United Commercial Bank Plc (UCB) took the initiative to implement the agricultural support scheme - `Bhoroshar Notun Janala' at the beginning of last year as part of its corporate social responsibility (CSR). This project aims to ensure food security and better nutritional quality within the country while also promoting climate-resilient sustainable agriculture.
During the field visit, Bangladesh Bank's Deputy Governor Abu Farah Md Nasser held a discussion meeting with the local beneficiary farmers. He said, "A sustainable agricultural production system will play an important role in providing environmental protection while also contributing significantly to ensuring food security. Farmers are now growing wheat and maize in this tobacco-dominant region, which is a positive sign. Besides contributing to building a self-reliant Bangladesh through the development of the agricultural sector, this initiative by United Commercial Bank PLC is posing multifaceted benefits for our farmers. UCB is setting an example for the private sector in coming forward to ensure growth within the country's agricultural sector. I applaud their initiative."
Besides high officials from UCB and RDA, Md. Anwarul Islam, Executive Director, Bangladesh Bank; Arif Quadri, Managing Director and CEO, UCB; ATM Tahmiduzzaman, Additional Managing Director, UCB; Dr. Abdul Majid Pramanik, Joint Director, RDA; and Rezaul Karim Siddique, Presenter at Bangladesh Television's program 'Mati O Mansh' and agricultural data analyst, were present at the discussion meeting.
Under the project jointly implemented by UCB and RDA, farmers are focusing on wheat production on a hundred acres of land in a tobacco-dominated area. The implementation of this project began with an aim to improve the quality of life of farmers and their families. This is being done by providing support for production-related materials, including fertilizers and irrigation, to farmer families living at climate risk within the northern region through wheat and maize cultivation programs. With the same goal in mind, the scheme is also working to discourage tobacco cultivation and provide technical training.
It is mentionable that, apart from Lalmonirhat, this project by UCB is also being implemented in Rangpur and Gaibandha. It provides training and booklets for farmers and necessary agricultural materials and equipment, including seeds, fertilizers, pesticides, drying mats, and threshing machines. According to the preliminary estimate, the project is expected to produce over four hundred metric tons of wheat and about two hundred and fifty metric tons of corn, enabling farmers to potentially earn BDT 2 crore 75. lakh.
