Dhaka, Bangladesh (BBN) - Farm credit disbursement target is expected to cross by the end of the current fiscal year (FY) 2013-14 following the Bangladesh Bank (BB) has beefed up efforts to make sure farmers get increased.
The expectation came after achieving nearly 97 percent of the annual agriculture loan disbursement target of BDT 145.95 billion by the banks in 11 months to June of the outgoing fiscal year, officials said on Monday.
All banks disbursed BDT 141.21 billion in the July-May period of FY 14, compared to BDT 129.95 billion in the corresponding period of the previous fiscal, according to the central bank statistics, released on Sunday.
Of BDT 141.21 billion, six state-owned banks disbursed BDT 87.15 billion, and the remaining BDT 54.06 billion was disbursed by the private commercial and foreign banks.
“The central bank expects the agriculture loan disbursement target to be exceeded by the end of the outgoing financial year,” a BB senior official told BBN in Dhaka.
He also said the farm loan worth around BDT 10 billion will be disbursed in the month of June, the last month of the outgoing year. “Some banks will expedite their farm loan disbursement drive this month to achieve annual target.”
BBN/SSR/AD-16June14-11:37 am (BST)