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BB extends Tk 5000cr refinance scheme to support food security
Bangladesh Bank has extended its Tk 5000 crore refinance scheme for another six months to ensure the country’s food security.
This extension allows farmers to access loans from this fund at a maximum interest rate of four percent until December.
In addition to traditional farming, loans from this fund can now also be used for rearing goats, sheep, and related livestock species.
On Thursday, the Agricultural Credit Department (ACD) of the central bank issued a circular detailing these updates. The circular emphasized that, to benefit more real farmers, Bangladesh Bank has expanded the scheme to include kandal crop cultivation and livestock rearing sectors, reports UNB.
The circular was sent to the Managing Directors and Chief Executive Officers of banks for immediate implementation. It also highlighted that due to high demand for the Tk 5000 crore refinancing scheme aimed at securing the country’s food supply, the deadline for loan disbursement from banks to customers has been extended to December 31 of this year.