The central bank has asked the commercial banks to disburse farm loans among the residents of the former Indian exclaves.
In a statement issued yesterday, the Bangladesh Bank (BB) said that it had decided to make farm loan available among the dwellers of the former exclaves just like what the farmers from other parts of the country get.
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The central bank said the aim of this initiative is to ensure proper utilisation of the former exclave lands and expansion of agricultural activities.
BB has set a target of disbursing Tk16,400 crore among the farmers of the new land in the ongoing 2015-16 fiscal year.
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These former fragments of the Indian territory in Bangladesh are the home of around 50,000 people, most of whom depend on agriculture for a living.
For generations, they have been living as foreigners on a land they were born in, without the minimum of amenities that the citizens of a country are entitled to.
This also meant that they they had very little or no exposures to agro-loans from banks or financial institutions which are very important for any societies that depend on farming.
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The statement also said that after the implementation of the Bangladesh-India land agreement, the exclaves have become inseparable parts of the country and hence all the banks have been directed to bring the farmers under credit facilities.
Now that they are officially Bangladeshis, they will be able to get identity documents such as national ID cards and passports, which are essential for getting loans.
