Dhaka, Bangladesh (BBN) – The central bank of Bangladesh is set to announce the new agriculture credit policy and program on July 23 with a disbursement target of BDT 145.95 billion for this fiscal, projecting 3.29 percent growth over that of the previous fiscal, officials said.
“We’ve been able to bring more products under the agro-credit program in the new policy to facilitate farmers across the country,” a senior official at the Bangladesh Bank (BB) told BBN in Dhaka.
He also said the commercial banks would have to ensure the quality of loans through strengthening their monitoring and supervision. “The banks must disburse the agriculture loans within the timeframe without any hassles to the farmers.”
Of the total target, BDT 87.90 billion will be disbursed by six state-owned banks during the fiscal year 2013-14 (FY 14).
Besides, 30 private commercial banks (PCBs) will provide BDT 53.72 billion, while nine foreign commercial banks (FCBs) will disburse BDT 4.33 billion to the farmers, according to the BB official.
Out of the target, the banks, which have started operation recently, will have to disburse 5.0 percent, in the agriculture sector, of their total loans and advances in the FY 14, they added.
BBN/SSR/AD-15July13-9:33 pm (BST)
