BB asked to involve concerned bodies in farm loans disbursement
The Fisheries and Livestock Ministry has requested the central bank to include the district and upazila agriculture credit committees in the distribution process of the farm loan of Taka 5,000 crore allocated for the farmers affected due to the covid-19 pandemic.
The ministry sent a letter, signed by its Secretary Rawnak Mahmud, to the Bangladesh Bank (BB) on Sunday (May 10) in this regard, said a release on Tuesday.
The ministry has made the request to the central bank authority following widespread allegations that the farmers are not getting any cooperation from the local banks, though the central bank has already formulated a refinancing scheme and funding policy to run the programme, the letter mentioned.
As a result, the government's effort of distributing farm loan would be hampered and create frustrations among the farmer.
The government has formed a fund of Taka 5,000 crore, under refinancing scheme of the BB, which was earlier announced by the Prime Minister with an objective of providing necessary credit assistance to the farmers, hatchery owners and agriculture entrepreneurs for minimising their losses incurred due to the coronavirus outbreak, it said.
Under the situation, the ministry said the concerned fisheries and livestock sector would be badly affected, if the people related with this sector are deprived of the credit facilities.