• Tuesday, Sep 28, 2021
  • Last Update : 06:17 am

BB to launch 3,000C agriculture loan refinance scheme

  • Published at 08:55 pm September 14th, 2021
Web_bangladesh-bank--Mehedi-Hasan
File photo of the main entrance of Bangladesh Bank in Motijheel, Dhaka Mehedi Hasan/Dhaka Tribune

The interest of the loan will be highest 4% for the farmers while banks will be charged 1% by Bangladesh Bank to receive the loan

Bangladesh Bank has decided to set up a Tk3,000 crore refinance scheme for the agriculture sector to deal with the financial crisis caused by the Covid-19 pandemic. 

“The Tk3,000 crore fund, named “Agriculture Sector Stimulus Re-financing Scheme (second phase)” was decided to be formed in order to ensure required soft loan for the agriculture sector to make its activities more vibrant as the sector has an important role to play to face the economic crisis due to the Covid-19 pandemic, said the BB circular issued on Tuesday. 

It said any affected farmer can avail a loan up to over 20% extra from the existing sanction limit and the highest amount of loan will be Tk 10 crore, which would be provided by a bank having an agreement with the Bangladesh Bank for disbursing this credit under the agriculture and rural credit policy. 

However, a farmer from the grass-root level can avail of a loan up to Tk 2 lakh without any collateral. But this loan will not be allowed to use for adjustment of the existing loan repayment. 

The interest of the loan will be highest 4% for the farmers while banks will be charged 1% by Bangladesh Bank to receive the loan. 

The customers covered under this policy will be eligible for receiving the loan from the fund valid for June 30, 2022.  

The interested banks, which want to distribute loans under the scheme, must have an agreement with the Bangladesh Bank while the central bank can re-fix the amount for the banks by making a time to time review of their capacity. 

The distribution banks will have to repay the loan to Bangladesh Bank within 18 months with a 6-month grace period while a customer will get 12 months to repay the loan.

53
Facebook 51
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail