The government has written off farm loans of up to Tk 10,000, interest included. The waiver covers 1,434,482 smallholder farmers across the country, whose loans totalling Tk 1,352.74 crore the government has paid.
Through Bangladesh Krishi Bank, Tk 604.81 crore was waived for 709,679 farmers. The remaining 724,803 farmers benefited through Rajshahi Krishi Unnayan Bank and other state and private banks.
Bangladesh Sangbad Sangstha (BSS) reports that old debts and default had kept many farmers from getting new bank loans. Freed of that burden, they can return to farming.
Economist Professor Abu Ahmed called the scheme a major gift to smallholders, but said raising output also needs secure supplies of farm inputs, lower production costs and higher subsidies.
Bangladesh Bank has set a target of Tk 60,000 crore in agricultural and rural credit for 2026-27, about 53.85 percent more than the previous year's target.
Those involved hope the waiver will ease smallholders' finances and bring more of them into banking. Agricare24 published the report crediting BSS.
Photo: farmers transplanting paddy in Bangladesh, Balaram Mahalder / Wikimedia Commons (CC BY-SA 3.0)
Source: Agricare24
Comments
(0)