Rajshahi Krishi Unnayan Bank (RAKUB) disbursed around Tk 920.70 crore agricultural loans in the country's northwest (NW) region during the first four months of fiscal 2020-21 to help higher crop production and boosting rural economy.
The bank disbursed the loans through its 383 branches in all 16 districts under Rajshahi and Rangpur divisions, report said quoting the bank officials.
Moreover, the bank has recovered loans of around Taka 703 crore including classified loan of Taka 80 crore and collected deposit to the tune of Tk 111 crore during the same period.
Headquartered in Rajshahi, the bank has set a target of disbursing loans of Tk 2,850 crore, recovery of Tk 2,480.63 crore and deposit collection of Tk 1,200 crore during the current fiscal year.
Senior bank officials made the disclosure at a review meeting on loan disbursement, recovery and deposit collection of the current fiscal held at the RAKUB's boardroom on Saturday.
The meeting also reviewed the disbursement of agricultural loans from the Prime Minister's stimulus package. It said RAKUB has disbursed Tk 327 crore agri-loan among 7,133 farmers through different branches from the stimulus package.
Bangladesh Bank has allocated Tk 416 crore fund to RAKUB from the stimulus package.
Bank Chairman Roisul Alam Mondal was the chief guest. Its Managing Director AKM Sajedur Rahman Khan was in the chair. Deputy Managing Director Muhammad Idrish and General Managers Ruhul Amin and Mosaddeque Hossain also spoke.
Sajedur Rahman Khan said the new stimulus package of Tk 5,000 crore for agriculture sector was announced in May last for farmers to boost agricultural production in the backdrop of the Covid-19.
"Small and medium farmers in rural areas received loans from the fund, and they are using the money to produce high yield agricultural products, flowers, fruits, fish and poultry," he added.
Other than, the bank has disbursed Taka 36 crore loans among 1,062 entrepreneurs to revive cottage, micro, small and medium enterprises (CMSMEs) that were affected financially. Bangladesh Bank has earmarked Tk 36 crore to RAKUB for the sector.
Besides, disbursement of loans at four percent interest for spices, it disbursed Tk 211 crore so far among 25,047 farmers. Sajedur Rahman also said loan disbursement to other sectors from the stimulus package is also progressing well.
He also said the stimulus packages will ultimately contribute a lot towards recouping the losses in agriculture being triggered by the Covid-19 pandemic.
