BB to give refinancing facilities to banks that focus on agro sector
Saturday, 19 June 2010
FE Report
The central bank would provide refinancing facilities to the private banks which focus on agro-processed sector to promote a modern agriculture system in the country, its governor Dr. Atiur Rahman said Wednesday.
He said some financial institutions have recently shown their positive response to extend support to the country's agriculture which sustains majority of the population for their socio economic development.
"We're ready to provide refinancing facilities to those institutions at five per cent interest," the governor said after formally inaugurating the OBL (One Bank Ltd) Agriculture Loan Products at a city hotel.
One Bank has recently introduced their agriculture loan products. The six agro-based products are Fasal (crop), Matsha (fisheries), Gobadi Poshu (cattle), Poultry, Krishi Sharanjam (agricultural equipment) and Uparjon (income) Loans.
The Bangladesh Bank governor appreciated the bank for its initiatives and emphasised the importance for helping of the farmers improve their livelihood and economy as a whole.
He also urged all the financial institutions to expand their business to the remote areas where it is needed most.
"We'll provide necessary support in this regard," he added.
Managing director of the bank Farman R Chowdhury said they have started distributing loans under the six categories considering the farmer's multiple demands. "And we're getting a significant response from the targeted group," he said.
Each farmer, aged between 22-55 years, having at least two years experience in their respective field would be able to apply for the loan facilities. Several farmers from Dohar and Nawabganj have also explained that the loan facilities have changed their fortune in the function.
Chairman of OBL board of directors Zahur Ullah and its vice chairman Farzana Chowdhury were also present on the occasion.
The central bank would provide refinancing facilities to the private banks which focus on agro-processed sector to promote a modern agriculture system in the country, its governor Dr. Atiur Rahman said Wednesday.
He said some financial institutions have recently shown their positive response to extend support to the country's agriculture which sustains majority of the population for their socio economic development.
"We're ready to provide refinancing facilities to those institutions at five per cent interest," the governor said after formally inaugurating the OBL (One Bank Ltd) Agriculture Loan Products at a city hotel.
One Bank has recently introduced their agriculture loan products. The six agro-based products are Fasal (crop), Matsha (fisheries), Gobadi Poshu (cattle), Poultry, Krishi Sharanjam (agricultural equipment) and Uparjon (income) Loans.
The Bangladesh Bank governor appreciated the bank for its initiatives and emphasised the importance for helping of the farmers improve their livelihood and economy as a whole.
He also urged all the financial institutions to expand their business to the remote areas where it is needed most.
"We'll provide necessary support in this regard," he added.
Managing director of the bank Farman R Chowdhury said they have started distributing loans under the six categories considering the farmer's multiple demands. "And we're getting a significant response from the targeted group," he said.
Each farmer, aged between 22-55 years, having at least two years experience in their respective field would be able to apply for the loan facilities. Several farmers from Dohar and Nawabganj have also explained that the loan facilities have changed their fortune in the function.
Chairman of OBL board of directors Zahur Ullah and its vice chairman Farzana Chowdhury were also present on the occasion.