RAKUB disburses Tk 390m CMSME loans

RAJSHAHI, Nov 18: Rajshahi Krishi Unnayan Bank (RAKUB) disbursed Taka 390 million (39-crore) loans to the cottage, micro, small and medium enterprise (CMSME) sector under the government's stimulus package in the country's north-western region in the last five and a half months till November 5.
The government announ-ced the bailout package for CMSME sector with an aim to help the stakeholders overcome the Covid-19 fallout.
RAKUB Managing Director Sajedur Rahman Khan said the loans were disbursed among 1,123 entrepreneurs to revive their CMSMEs badly affected by Covid-19 impact in almost all 16 districts under Rajshahi and Rangpur divisions.
He said the Bangladesh Bank allocated Taka 360 million (36 crore) to RAKUB for the sector.
Besides, the state-owned RAKUB disbursed Taka 3.27 billion (327 crore) in agriculture loans among 7,133 farmers through different branches from the Prime Minister's stimulus package to boost agricultural production in the backdrop of the Covid-19.
Bangladesh Bank allocated Taka 4.16 billion (416 crore) for the sector from the stimulus package.
Sajedur said the money from the fund had been disbursed among small and medium-scale farmers, including those in the poultry and dairy sector, in rural areas, at an interest rate of five per cent.
"Small and medium-scale farmers in rural areas received loans from the fund, and they are using the money to yield agricultural products, flowers, fruits, fish and poultry," he added.
Apart from this, the specialized commercial bank disbursed around Taka 9.20 billion (920.70 crore) agriculture loans in the country's north-western (NW) region during the first four months of the current 2020-21 fiscal year to facilitate increasing crop production and boosting rural economy.
The bank also recovered loans of around Taka 7.03 billion (703 crore) including classified loan of Taka 800 million (80 crore) besides collecting deposit of Taka 1.11 billion (111 crore) during the same period.
The bank headquartered in Rajshahi has set a target of disbursing loans of Taka 28.50 billion (2,850 crore), recovering Taka 24.80 billion (2,480.63 crore) and collecting deposit of Taka 12.0 billion (1,200 crore) during the current fiscal year.
Besides, the existing disbursement of loans at four per cent interest rate for spices is continuing and Taka 2.11 billion (211 crore) has, so far, been disbursed among 25,047 farmers.
Sajedur Rahman also said loan disbursement activities to other sectors of the stimulus package announced by the premier are progressing efficiently. "We are very much hopeful about attaining the cherished targets of disbursing loans in these sectors within the stipulated time," he added.