Bhutan Development Bank Limited and Mountain Hazelnuts Venture Private have signed a Memorandum of Understanding to enhance rural livelihoods and financial access for over 8,000 hazelnut-growing households. BDBL has signed a MoU with MH to provide streamlined banking services, financial literacy programs, and digital inclusion to rural farmers. The partnership will offer tailored financial products, account openings, and loan services to meet the unique needs of hazelnut cooperatives and individual growers. The collaboration is expected to significantly impact farmers in remote areas. BDBL intends to implement an Agent Banking model, which will progressively replace parts of its current gewog field offices, in order to further improve accessibility.
By using locally appointed agents to provide financial services, this strategy seeks to increase accessibility, prolong service hours, and generate local job possibilities in communities. Since hazelnut growing is common in the most remote gewogs, agent banking is anticipated to be especially helpful in providing basic financial services. Across the nation, BDBL runs 18 gewog field offices, four extension offices, and 31 branches. One of the biggest agricultural projects in the private sector, Mountain Hazelnuts, works with thousands of rural households to grow hazelnuts as a sustainable cash crop. In line with national objectives, Bhutanese officials hope to advance digital transformation and green economic growth through a cooperation that blends environmental restoration with rural economic development.