Dhaka, Bangladesh (BBN)- Disbursement of farm credit decreased by more than 2.0 per cent in the first nine months of the current fiscal year (FY) 2014-15 compared with the same period of the previous fiscal, officials said.
The disbursement of agriculture loans came down to BDT 111.66 billion in the July-March period of the FY 15 from BDT 114.46 billion in same period of the FY 14, according to the central bank latest statistics.
Of BDT 111.66 billion, state-owned banks disbursed BDT 66.27 billion, and the remaining BDT 45.39 billion was disbursed by the private commercial banks (PCBs) and foreign commercial banks (FCBs).
We’re working to achieve the agriculture credit disbursement target by the end of this fiscal,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
As part of the moves, the central bank is organising review meetings at divisional and regional levels across the country aiming to expedite both recovery and disbursement of the farm loans.
We’ve already completed five divisional levels review meetings. Rest of three meeting will be held in the next month,” the central banker explained.
All banks have achieved nearly 72 per cent of their annual agricultural loan disbursement target for FY 15, fixed at BDT 155.50 billion.
On the other hand, the recovery of farm loan came down to BDT 117.56 billion during the period under review from BDT 124.23 billion in the same period of the previous fiscal.