Bangladesh Bank (BB) announced on Thursday it will crackdown on brokers in agricultural loan distribution system.
BB governor Ahsan H Mansoor announced the plan at a press conference to ensure that genuine farmers get these loans.
Announcing the agricultural and rural credit policy for fiscal 2024-2025, he set an ambitious target of providing Tk380 billion as agricultural and rural loan to boost GDP growth and control inflation by increasing agricultural production.
In the last fiscal Tk350 billion allocated for distribution of agricultural and rural credit.
Mansoor emphasized the need to eliminate brokers from loan distribution system, to ensure that only farmers get the loan.
BB Governor said steady supply of funds to the agricultural sector is crucial for poverty alleviation, job creation and controlling inflation.
Bangladesh Bank expects these measures would contribute to sustainable economic development and improve the management of the country's economy.
