Agrani Bank – Employment Generation Project for the Rural Poor (EGPRP)

Agrani Bank emerged as a Nationalized Commercial Bank following the Bangladesh Banks (Nationalization) Order 1972 vide President’s Order No. 26 of 1972 under which former Habib Bank Limited and Commerce Bank Limited and renamed as Agrani Bank. The Bank was incorporated as a State-owned Commercial Bank on 17 May 2007 under the Companies Act 1994. On a going concern basis, Agrani Bank Limited took over the business, assets, liabilities, rights and obligations of Agrani Bank through a vendor’s agreement signed on 15 November 2007 between the Ministry of Finance of the People’s Republic of Bangladesh and the Board of Directors of ABL with retrospective effect from 01 July, 2007.

Employment Generation Project for the Rural Poor (EGPRP) is a foreign aided (IFAD aided) credit program. It was under took in 1995 under IFAD Loan No.378 BD. It was introduced mainly for nationwide small enterprises development, poverty reduction and employment generation. Under the program, countrywide 191 designated branches of Agrani Bank Limited are involved in disbursing the credits to the target people. As a retailer, an eligible NGO can avail a bulk loan for on-lending to the people. The loan size at individual level is Tk.20,000 to Tk.5,00,000 and no collateral is required up to Tk.75,000. The rate of interest of this credit is 9.00% per annum.