Bangladesh Bank has set aside a Tk 3,000 crore refinance fund for North Bengal's farm economy. Entrepreneurs in farm production and in storing, transporting, marketing and processing farm produce can borrow up to Tk 500,000 from it at 7% interest without collateral. The details were given at a town hall meeting with entrepreneurs and stakeholders in Natore town on Monday afternoon (12 October), Agricare24 reports.
The meeting was told that a Tk 10,000 crore refinance fund has been created for agriculture nationwide, of which Tk 3,000 crore is for North Bengal. The loans will be disbursed through 39 banks that have agreements with Bangladesh Bank.
Muhammad Badiuzzaman Didar, executive director of Bangladesh Bank's Rajshahi office, said more publicity is needed to make sure the money is used properly, and that the central bank is focused on making it easy for eligible entrepreneurs to borrow.
For farmers and small agribusinesses, it means cheaper credit for storage, transport or processing without mortgaging land or assets. Abdul Halim, Prime Bank's regional vice-president in Rajshahi, chaired the meeting, which was attended by bankers and entrepreneurs.
The report is by Agricare24's Natore correspondent.
Photo: a mustard field in Bangladesh (file picture). Photo: Rezowan / Wikimedia Commons (CC BY-SA 3.0)
Source: Agricare24
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