BB raises agri loan disbursement target to 8.57%

Bangladesh Bank (BB) has raised the agri-credit disbursement target to 8.57 percent amounting to Tk 38,000 crore for the current fiscal year 2024-25 (FY25).

The disbursement target for the immediate past fiscal year 2023-24 (FY24) was Tk 35,000 crore.

"To achieve higher GDP growth, control inflation, eradicate poverty, ensure safe and nutritious food and develop rural economy through increasing production, the central bank has published the annual Agricultural and Rural Credit Policy and Program for the financial year 2024-2025," said BB Governor Dr Ahsan H Mansur while announcing the target at a press conference at the central bank headquarters in Dhaka on Thursday.

Considering the increased demand for agricultural and rural credit, the disbursement target for the state owned and specialized commercial banks is fixed at Tk 12,615 crore and for the private and foreign commercial banks is fixed at Tk 25,385 crore, reports BSS.

In the previous financial year (2023-24), all the scheduled commercial banks disbursed agricultural and rural credit of 37,153.90 crore Taka.

The agricultural and rural credits were disbursed among 37,41,386 persons in total of which 19,21,424 women borrower received Tk 13,956.72 crore. Beside this, 28,23,530 small and marginal farmers received around Tk 24,844.71 crore from different banks.

Moreover, Tk 25.78 crore was disbursed among 4,375 farmers of char, haor and less developed areas in the country.

In the context of the present global economic situation, to ensure the food security of the people and to develop a sustainable agricultural credit system, there are some new inclusions in the current agricultural credit policy.

Among others, senior officials of the central bank, CEOs of different banks and journalists from different media were present at the press conference.