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23 August, 2020 06:57:15 PM
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USDA enlists Prime Bank as approved foreign financial institution for import of agri commodities

Staff Reporter, Dhaka
USDA enlists Prime Bank as approved foreign financial institution for import of agri commodities

The Commodity Credit Corporation (CCC) of the United Stated has approved Prime Bank to participate in Export Credit Guarantee Program (GSM-102) of United States Department of Agriculture (USDA) for smooth import of agricultural commodities.

Prime Bank is one of the first two banks in Bangladesh which have been approved as GSM-102 Approved Foreign Financial Institutions from Asia Region, said a press release.

As an approved foreign financial institution, Prime Bank would be able to support its customers to import food and agricultural commodities from the US like cotton, soybeans, grains, cereals, woods, nuts, fruits among others under the guarantee coverage of GSM-102 Export Credit Guarantee Program administered by USDA, the statement said.

“This new capability of Prime Bank would help to facilitate our trade with the United States being a major trade financing bank in the country and does have value proposition for the businesses having major supply chain in the US agricultural sector for their necessary inputs in textiles, foods, edibles and allied industries in the country,” the statement added.

Commenting on the occasion, Prime Bank’s Managing Director and CEO Rahel Ahmed said, “This is reward for Prime Bank for long track record of conducting international business with transparency and accountability. This will help us to support our clients engaged in international commodity import business better.”

“It will further boost our international trade portfolio. This recognition from the United States government will inspire us to achieve new milestone in international trade,” he also said. 

HM

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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