DHAKA: The government fixed the allocation target of agricultural and commercial banks' agro loan at Tk 24,124 crore for the fiscal year 2019-20. 

Bangladesh Bank (BB) Deputy Governor SM Moniruzzaman disclosed the amount while announcing Agricultural and Rural Credit Policy (target) at a program held at Jahangir Alam Conference Hall of BB Tuesday (July 23).

The set amount of this year's agro and rural loans is 10.66 percent higher than the previous fiscal year, he said.

State, commercial and specialized banks have to distribute agro loans Tk 10,375 crore this year while private and foreign commercial banks have to distribute Tk 13,749 crore, added the deputy governor.

In 2018-19 FY, 38,83,424 farmers were allocated Tk 23,616,25,00000 loans whereas the target was fixed at Tk 23,616,25,00000.              

Nine percent interest rate for the loans remains unchanged, said SM Moniruzzaman. 

Of the loans, 60 percent will be given for crops while 20 percent for fisheries and livestock sectors and the rest amount for farming machineries, poverty eradication and other sectors, on priority basis.

BDST: 1515 HRS, JUL 23, 2019
SI/SMS