Bangladesh’s Farmers to get 3.6 Billion Dollar loan this Year

Agriculture and Rural Credit Policy and Program of Bangladesh Bank has set the loan target for the new financial year on Wednesday. Bangladesh Bank allocated loans of Tk 26,292 crore or 3.6 Billion dollars for farmers in the current fiscal year 2020-21 to combat the Covid-19 epidemic.Which is about 8.99 percent more than the 2019-20 financial year. Considering the growing demand for agricultural and rural loans, the 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 disbursing Tk 15,246 crore.

According to the central bank, a total of 3 million people received agricultural and rural loans in the last financial year, of which 1.5 million women received agricultural and rural loans of around Tk 8,359.93 crore through banks’ own networks and MFI linkages. 23 lakh 54 thousand 6 small and marginal farmers have received loans of around Tk 16,250 crore from various banks and 8,179 farmers of backward areas like chars, haors etc. have received agricultural and rural loans of around Tk 21.21 crore .

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