BB extends deadline until December 30

The central bank has extended the deadline for disbursement of Tk. 50 billion special stimulus package for the Covid-19 pandemic hit agricultural sector to December 31 next.

The original deadline was set to expire on September 30.

The stimulus package was announced by the central bank under a very soft refinancing scheme to offer loans to the farmers at a low interest rate.

The recipients of the loans under the package in question are required to pay interest at 4.0 per cent. Banks are receiving funds from the Bangladesh Bank at a rate of only 1.0 per cent.

In a notice issued on Sunday, the central bank said the deadline for disbursing loans under the special stimulus package has been extended up to December 31 next.

Sirajul Islam, spokesperson for the Bangladesh Bank, told the FE, "The banks will provide the loans to the agricultural clients at 4.0 per cent and they will keep 3.0 per cent as spread."

Agricultural Credit Department of the BB issued the circular signed by its deputy general manager Humayun Kabir.

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