Bangladesh Bank plans to disburse Tk 164 billion in agricultural credit, eyes 5.47% rise | Greenwatch Dhaka | The leading online daily of Bangladesh

Bangladesh Bank plans to disburse Tk 164 billion in agricultural credit, eyes 5.47% rise

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The Bangladesh Bank aims to distribute Tk 164 billion as agriculture and rural credit in 2015-16 fiscal year (FY).
Governor Atiur Rahman disclosed the plan on Monday while announcing the bank’s agriculture and rural credit policy.The target had been set on the basis of the private and specialised banks’ own targets, the net gross credit and advance of foreign banks, and total credit and advance of the nine newly established banks.The target is 5.47 percent higher than last year’s Tk 155.5 billion.Last year, 56 banks had disbursed Tk 159.78 billion, 4.28 billion more than the target.The central bank governor underlined the vital role of the sector in creating a vibrant economy.Bangladesh Bank Deputy Government SK Sur Chowdhury urged bank officials not to harass people while distributing agricultural loans.The banks that distribute credit through NGOs would have to see to it that no two banks gave credit to the same NGO, he said.Bangladesh Krishi Bank (BKB) and Rajshahi Krishi Unnayan Bank (RAKUB) – specialising in agriculture credit — will disburse Tk 48 billion and Tk 6 billion respectively.BKB Managing Director MA Yusuf told bdnews24.com, “We have taken the necessary measures to disburse agriculture credit, keeping the target in mind.”He hoped to achieve the target.According to the plan, six state-owned commercial banks will disburse Tk 28.90 billion, nine foreign banks, Tk 3.93 billion, and 39 private banks, Tk 67.17 billion.

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