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Banks disbursed Tk 52.1 billion agri loans in July-Sept period

Published : Tuesday, 26 October, 2021 at 12:00 AM  Count : 569

In the first three months (July-August-September) of the current fiscal year (2021-22, FY22) banks disbursed Tk52.1 billion agricultural loans which is 11.23 per cent or Tk5.26 billion more than the same period of the previous fiscal.
In the first three months of the last financial year (2020-21), the banks disbursed Tk46.84 billion in the agriculture and rural credit sectors according to Bangladesh Bank (BB) latest statistics.
As per central bank data the banks lagged behind in disbursing agricultural loans in the first two months of the current financial year, July and August. In September, the third month of the financial year, the distribution of Tk25.36 billion saw a positive change. In July and August, there was a negative growth of 21 per cent in agricultural credit disbursements.
Banks disbursed Tk9.42 billion in agricultural loans in July. The amount distributed in August was Tk17.32 billion. The total disbursed amount in first three months was Tk52.1 billion which is 18.35 per cent of the annual distribution target.
In the fiscal year 2021-22, there is a target to disburse loans of Tk283.91 billion to the agriculture sector. Agricultural credit targets are not being met due to the global pandemic. The target for disbursement of loans was Tk262.92 billion in the fiscal year 2020-21. Banks were able to disburse 97 per cent of the target in that financial year.
In other words the banks were able to distribute Tk255.11 billion. The bank also failed to achieve the target in disbursing agricultural loans in financial year 2019-20. In July-August-September of the 2021-22 financial year, agricultural loan of Tk55.86 billion has been collected and during July-September of the fiscal year 2020-21, the agricultural loan collection was Tk62.77 billion.
On the other hand, in last April, Bangladesh Bank announced an incentive package of Tk50 billion for the agricultural sector. Under the package, loans worth Tk42.95 billion were disbursed to poultry, dairy and livestock, horticulture, flowers, fruits and fisheries till June 30.
As the corona virus situation did not improve by that time, the central bank set up another Tk30 billion refinancing fund last September. Small and marginal sharecroppers were eligible for the loans up to Tk200 thousands without collateral. The term of the fund will continue till June 2022.










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