Banks urged to speed up agri loans

Bangladesh Bank has asked the country’s banks to provide agricultural loans to farmers for rearing buffalo on priority basis, reports UNB. In a circular, issued on January 5 by its Department of Agriculture Loan (DAL), the central bank said the bank authorities concerned can decide the amount of loans and tenure, and repayment schedule. “In this regard, the banks can take advice or recommendations from the officials of the district or upazila administration,” the circular added. It said the livestock sector has been playing a vital role in the economy. In the government’s policy on livestock, it has been directed to provide loans to buffalo rearing programmes alongside other animals rearing like cattle, goat and sheep. Buffalo production can help meet the demand for protein and it has important role in rural transportation. There is a huge potential for buffalo production and rearing in char and haor areas due to conventional environment and custom, said the central bank circular. Despite this potential, the agriculture credit disbursement in this sub-sector is insignificant. So, banks are asked to take necessary steps to distribute more agriculture credit to farmers for buffalo rearing, said the circular. According to 2011 statistics of Department of Livestock Services (DLS) of the Ministry of Fisheries and Livestock, the country has total 1.26 million buffalo heads.

Banks urged to speed up agri loans

Bangladesh Bank has asked the countrys banks to provide agricultural loans to farmers for rearing buffalo on priority basis, reports UNB. In a circular, issued on January 5 by its Department of Agriculture Loan (DAL), the central bank said the bank authorities concerned can decide the amount of loans and tenure, and repayment schedule. In this regard, the banks can take advice or recommendations from the officials of the district or upazila administration, the circular added. It said the livestock sector has been playing a vital role in the economy. In the governments policy on livestock, it has been directed to provide loans to buffalo rearing programmes alongside other animals rearing like cattle, goat and sheep. Buffalo production can help meet the demand for protein and it has important role in rural transportation. There is a huge potential for buffalo production and rearing in char and haor areas due to conventional environment and custom, said the central bank circular. Despite this potential, the agriculture credit disbursement in this sub-sector is insignificant. So, banks are asked to take necessary steps to distribute more agriculture credit to farmers for buffalo rearing, said the circular. According to 2011 statistics of Department of Livestock Services (DLS) of the Ministry of Fisheries and Livestock, the country has total 1.26 million buffalo heads.