BB announces Tk 5,000cr refinance scheme for ensuring food security

Bangladesh Bank (BB) has announced a refinancing scheme of Tk5,000 crore for farmers aiming to ensure food security.

Under this scheme, farmers will be provided with loans at an interest rate of only 4 percent, according to a BB circular issued today, reports BSS.

Besides, banks will be able to borrow from the central bank at an interest of only 0.5 percent to provide farmers with loans under this scheme.

Farmers will avail loans under this scheme till 30 June 2024 with potential extinction in need, the notice added.