Cannot initialize databases in Spring Boot Microservices

In a Spring Boot app, I am trying to initialize databases for the business services and have tried several methods using init.sql and init-dbs.sh scripts with different options and parameters. However, in each time, databases are not created and I think problem may be caused from converting t6he script to executable.

I also use Liquibase in my project, but before creating table phase, I had trouble while creating databases first.

Here is one of the script that I am using and related part of my docker-compose:

init.sh:

#!/bin/bash
set -e

psql -v ON_ERROR_STOP=1 --username "$POSTGRES_USER" --dbname "$POSTGRES_DB" <<-EOSQL
CREATE DATABASE inventory_db;
CREATE DATABASE notification_db;
CREATE DATABASE order_db;
CREATE DATABASE payment_db;
CREATE DATABASE product_db;
CREATE DATABASE user_db;

\connect inventory_db
  BEGIN;
    CREATE USER inventory_user WITH PASSWORD 'inventory_password';
    CREATE SCHEMA inventory_schema AUTHORIZATION inventory_user;
  COMMIT;

\connect product_db
  BEGIN;
    CREATE USER product_user WITH PASSWORD 'product_password';
    CREATE SCHEMA product_schema AUTHORIZATION product_user;
  COMMIT;

\connect user_db
  BEGIN;
    CREATE USER user_service WITH PASSWORD 'user_password';
    CREATE SCHEMA user_schema AUTHORIZATION user_service;
  COMMIT;
EOSQL

docker-compose.yml:

services:
  postgres:
    image: postgres:latest
    container_name: postgres
    environment:
      POSTGRES_USER: postgres
      POSTGRES_PASSWORD: postgres
      POSTGRES_DB: postgres
      PGDATA: /var/lib/postgresql/data/pgdata  # ???
    volumes:
      - ./docker/init.sh:/docker-entrypoint-initdb.d/init.sh
      - postgres_data:/var/lib/postgresql/data
    ports:
      - "5432:5432"
    networks:
      - app-network

I use chmod +x init.sh command to make the script executable and then compose postgres container. But there is not any of these databases created inside this container. So, should I follow another approach or what is the problem with this example?