Dairy farmers to get loan at 4.0pc interest

Dairy farmers will now get loan at 4.0 per cent interest rate instead of 5.0 per cent from Bangladesh Bank's Tk 2.0 billion refinancing scheme, reports BSS.

The central bank on Monday announced to lower the interest rate to 4.0 per cent from 5.0 per cent with effect from November 01, said a circular here.

In the circular, the BB asked banks and non-bank financial institutions to disburse loans from the refinancing fund to raise milk production and artificial insemination.

BB created the fund in 2015.

Now the dairy farmers, individually or jointly, will be able to take loan worth Tk 40,000 to buy a young female cow (heifer) and Tk 10,000 to rear it.

A dairy farmer will be able to take maximum Tk 200,000 for buying four young female calves.