BRAC Bank recently signed a tripartite agreement with PROVATi3-LGED and bKash Limited to facilitate the digital disbursement of stipends for training youths in the Teesta-Brahmaputra basin.

Tareq Refat Ullah Khan, deputy managing director and head of corporate and institutional banking of BRAC Bank, Ali Ahmmed, chief commercial officer of bKash, and Md Anisul Wahab Khan, project director of PROVATi3-LGED, penned the deal at the LGED office in Dhaka, according to a press release.

Under the agreement, beneficiaries of the PROVATi3 (Promoting Resilience of Vulnerable through Access to Infrastructure, Improved Skills and Information) project being funded by the International Fund for Agricultural Development will now receive their stipends via the bKash app.

BRAC Bank will act as the settlement bank, ensuring timely and secure payments to eligible recipients.

The project's "Skill Development of Youth for Employment" initiative provides vocational training to underprivileged youths across 25 upazilas in six districts along the Teesta-Brahmaputra Basin.

Upon completion, stipends will be disbursed digitally through the bank and mobile financial service provider, enhancing efficiency and transparency in the distribution process and benefitting marginalised communities in rural areas.

"This initiative aligns with our commitment to improve financial inclusion and support the government's effective delivery of social benefits," said BRAC Bank Deputy Managing Director Tareq Refat Ullah Khan.

Md Ali Akhtar Hossain, chief engineer of LGED, Gopal Krishna Debnath, additional chief engineer, and Shaikh Muzakka Zahar, additional chief engineer, were present at the signing.

AKM Faisal Halim, head of transaction banking at BRAC Bank, Maj (retd) Mohammad Arif Chowdhury, unit head of transaction banking, and Ashique Iqbal, vice president for government disbursements at bKash, were also present.