Ansar VDP Bank seeks Tk 500m in budget

Ansar VDP Unnayan Bank, a specialised bank, has sought a budget allocation of Tk 500 million as agro-based industry loan assistance fund, officials said.

Managing director of the bank Mohammad Shams-ul Islam sent a letter recently to the senior sectary of the ministry of finance (MoF) seeking the fund.

“The specialised development bank is facing problems in providing loan to agriculture- based industry sector due to insufficient fund. The loan activities of the bank in the sector will be strong if the allocation is made in favour of the bank,” a high official of the bank told the FE Wednesday.

“We received a letter from Ansar VDP Unnayan Bank seeking an allocation recently. The letter has been sent to official concerned to examine the issue, an official of the finance division said.

The authorised and paid-up capitals of the bank are Tk 1.0 billion and Tk 552 million respectively. Presently, the share holders of the bank are over 2.5 million. There are 14 and 199 regional offices and branches respectively of the bank across the country. It has taken a plan to raise the number of its regional offices and branches to 239 in the current fiscal year.

The bank had started operation in late 1996 aiming at poverty alleviation of nearly 5.6 million Ansar and VDP members by engaging them in income-generating activities through credit support. It also aimed at raising their living standard by making them self-reliant.

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