State-owned commercial and specialized banks have allocated large scale of soft loans for farmers in the current (2020-21) fiscal to address the financial crisis created due to coronavirus. The amount is 26 thousand 292 crore. This is 8.99 percent more than the last financial year.
On Wednesday (July 22), the Agricultural Credit Department of Bangladesh Bank formulated the policy and programme for agriculture and rural credit for the new financial year. State-owned commercial and specialized banks will disburse loans of Tk 11,045 crore and private and foreign commercial banks have set a target of lending Tk 15,246 crore.
According to the central bank, banks have disbursed a total of Tk 22,749 crore in agriculture and rural loans in the last 2019-20 fiscal year, which is 5.60 per cent or Tk 1,365 crore less than the total target in the last financial year. The target for agricultural credit in the last financial year was Tk 24,124 crore.
The basis on which the loan will be given is-
>> Provision of loan for keeping reptiles and partridges and addition of loan rules in this regard.
>> Provide loans for fish farming in bioflock method.
>> Loan for fattening cows under contract farming.
>> Debt regulations have increased the credit limit per crop per acre.
In addition to the interest-loss facility, low interest rate loans (at 4 per cent) have been introduced in the grain and crop sectors in addition to oil and spice crops and maize, which will continue throughout the current financial year (2020-21).
According to the central bank, about Tk 162 crore has been disbursed from the scheduled banks till June 30 under the refinancing scheme and Tk 260 crore in the grain and crop sector under interest-loss facility.