Low interest loan for marginal dairy farmers

Fund embezzlement allegation against bank officials

A section of bank officials have allegedly involved in sanctioning loan, at five per cent interest rate, to its security personnel or bank officials instead of marginal farmers to rear cow for milk.
The government has taken up the initiative to disburse Tk 200 crore among poor farmers to raise the cow for milk and fattening of cattle to address the country’s milk and meat demand.
It is the Prime Minister’s priority project to rear cow for milk and meat, which is implemented under the supervision of Bangladesh Bank and the department of livestock.
There is 70 per cent shortage of milk in the country against demand. The local production of cow milk is only 72.75 lakh ton and the production needs to be doubled to meet the country’s demand, sources said.
Twelve commercial banks and one financial organisation are involved in disbursing the loans to farmers with consultant concerned livestock officials of the areas.
But in reality—none of the bank officials follow the Bangladesh Bank guidelines before sanctioning the loans, it is alleged by the department of livestock.
Against this backdrop, department of livestock organised a national conference at the Krishibid Institute on the issue.
Among others, fisheries and livestock minister Sayeedul Huq, state minister for fisheries and livestock Narayan Chandra Chanda, secretary of the ministry Maksudul Hasan Khan, director general of department of livestock Ajay Kumar Roy and executive director of Bangladesh Bank Shuvankar Shaha also spoke on the occasion.
Divisional, district and upazila livestock officers, representative of banks and other related officials took part in the conference.
“Bank officers do not contact with field level livestock officers before giving loan. Even, they don’t supply any list of farmers,” Ajay Kumar Roy alleged. Most of the loans are giving bank staffs instead of farmers—as a result the initiative taken as PM’s priority project is not getting momentum, he said.
“Many people have bought goat instead of milk cow. So, it would hamper the project goal. Besides, many don’t buy nothing even taking the loan,” the livestock DG said. According to Ajay Roy, the loan condition is to buy high breed calf and to rear it for milk.
Sayeedul Huq said loan must be disbursed among real farmers and urged to increase the milk production.
“We are dependent on meat, fish, milk and egg. So, we have to self dependent on them by increasing production,” Narayan Chandra Chanda said.
The experts suggested for strengthening the monitoring cell in disbursing loans so that it could be ensure whether real farmers are getting loan or not.

Low interest loan for marginal dairy farmers

Fund embezzlement allegation against bank officials

A section of bank officials have allegedly involved in sanctioning loan, at five per cent interest rate, to its security personnel or bank officials instead of marginal farmers to rear cow for milk. The government has taken up the initiative to disburse Tk 200 crore among poor farmers to raise the cow for milk and fattening of cattle to address the countrys milk and meat demand. It is the Prime Ministers priority project to rear cow for milk and meat, which is implemented under the supervision of Bangladesh Bank and the department of livestock. There is 70 per cent shortage of milk in the country against demand. The local production of cow milk is only 72.75 lakh ton and the production needs to be doubled to meet the countrys demand, sources said. Twelve commercial banks and one financial organisation are involved in disbursing the loans to farmers with consultant concerned livestock officials of the areas. But in realitynone of the bank officials follow the Bangladesh Bank guidelines before sanctioning the loans, it is alleged by the department of livestock. Against this backdrop, department of livestock organised a national conference at the Krishibid Institute on the issue. Among others, fisheries and livestock minister Sayeedul Huq, state minister for fisheries and livestock Narayan Chandra Chanda, secretary of the ministry Maksudul Hasan Khan, director general of department of livestock Ajay Kumar Roy and executive director of Bangladesh Bank Shuvankar Shaha also spoke on the occasion. Divisional, district and upazila livestock officers, representative of banks and other related officials took part in the conference. Bank officers do not contact with field level livestock officers before giving loan. Even, they dont supply any list of farmers, Ajay Kumar Roy alleged. Most of the loans are giving bank staffs instead of farmersas a result the initiative taken as PMs priority project is not getting momentum, he said. Many people have bought goat instead of milk cow. So, it would hamper the project goal. Besides, many dont buy nothing even taking the loan, the livestock DG said. According to Ajay Roy, the loan condition is to buy high breed calf and to rear it for milk. Sayeedul Huq said loan must be disbursed among real farmers and urged to increase the milk production. We are dependent on meat, fish, milk and egg. So, we have to self dependent on them by increasing production, Narayan Chandra Chanda said. The experts suggested for strengthening the monitoring cell in disbursing loans so that it could be ensure whether real farmers are getting loan or not.