RAKUB disburses Tk 39-cr CMSME loans in north-western zone

Rajshahi Krishi Unnayan Bank (RAKUB) disbursed Tk 39-crore loans to the cottage, micro, small and medium enterprise (CMSME) sector under the government’s stimulus package in country’s north-western region in the last around five and a half month till November 5.

The government announced the bailout package for CMSME sector with an aim to help the stakeholders overcome the Covid-19 fallout, reports BSS.

RAKUB Managing Director Sajedur Rahman Khan said the loans were disbursed among 1,123 entrepreneurs to revive their CMSMEs that have been badly affected by COVID-19 impact in almost all 16 districts under Rajshahi and Rangpur divisions.

He said the Bangladesh Bank has allocated Taka 36 crore to RAKUB for the sector.

Besides, the state-owned RAKUB disbursed Taka 327 crore agriculture loans among 7,133 farmers through different branches from the Prime Minister’s stimulus package fund to boost agricultural production in the backdrop of the Covid-19.

Bangladesh Bank has allocated Taka 416 crore fund for the sector from the stimulus package.

Sajedur Khan said the money from the fund has been disbursed among small and medium-scale farmers, including those in the poultry and dairy sector, in rural areas, at five percent interest.

“Small and medium-scale farmers in rural areas received loans from the fund, and they are using the money to yield agricultural products, flowers, fruits, fish and poultry,” he added.

Apart from this, the specialized commercial bank has disbursed around Taka 920.70 crore agriculture loans in the country’s north-western (NW) region during the first four months of the current 2020-21 fiscal year to facilitate increasing crop production and boosting rural economy.

The bank also recovered loans of around Taka 703 crore including classified loan of Taka 80 crore besides collecting deposit of Taka 111 crore during the same period.

The bank headquartered in Rajshahi has set a target of disbursing loans of Taka 2,850 crore, recovering Taka 2,480.63 crore and collecting deposit of Taka 1,200 crore during the current fiscal year.

Besides, the existing disbursement of loans at four percent interest for spices is continuing and Taka 211 crore has, so far, been disbursed among 25,047 farmers.

Sajedur Rahman also said loan disbursement activities to other sectors of the stimulus package announced by the premier are progressing efficiently.

“We are very much hopeful about attaining the cherished targets of disbursing loans in these sectors within the stipulated time,” he added.

He went on saying that the stimulus packages will ultimately contribute a lot towards recouping the losses being triggered by the Covid-19 pandemic.