BHBFC to offer housing loan to farmers at 8pc interest

Bangladesh House Building Finance Corporation (BHBFC) is set to disburse housing loan at 8 percent interest rate to farmers under the 'Krishak Abashan Reen' programme.

We have already got approval from the Finance Ministry regarding this loan. We will issue a circular after our board meeting, BHBFC Managing Director Debasish Chakrabarty told BSS today.

BHBFC is now offering loans at 9 percent interest rate for Dhaka and Chattogram metropolitan areas while 8.5 percent for other areas.

Debasish said marginal and landless farmers, even owner of any agriculture land, can enjoy the loan facilities with lower rate of interest.

For implementing the programme, he said the Islamic Development Bank (IsDB) is providing Taka 1,000 crore soft loan for BHBFC.

The formalities of releasing the loan are underway. We expect that IsDB would release the loan in October this year as we have already got the effective letter, he added.

He said the loan will play a vital role to implement the planned housing programme in rural areas as the construction of unplanned houses is severely affecting arable land across the country.

The managing director said BHBFC has taken a plan to disburse credit for constructing the houses with a specific model called 'Koto System'.

We've already got approval from the Finance Ministry in this regard. We're going to work with a private company for transferring the Koto System to the farmers, he added.

Like Malaysia, Vietnam and Singapore, he said, the house will be popular in the country as the construction cost of the eco-friendly house is very low.

Debasish informed that BHBFC is offering seven types of products to take the services of the corporation to the people.

The products are Nagar Bondhu, Nagar Bondhu Flat, Palli Ma, Abashan Unnyan Reen, Abashan Meramat Reen, Probash Bondhu and Krishak Abashan Reen.

He said BHBFC disbursed Taka 360.02 crore in fiscal 2017-18, while Taka 278.51 crore in fiscal 2016-17 and Taka 247.98 crore in fiscal 2015-16.

BHBFC is giving training to its field-level officials to increase the standard of its loan services. As a result, realisation of loans from borrowers has significantly increased, he added.

Debasish said BHBFC has also opened a helpdesk for giving information and resolving problems of its borrowers.

Source: Bangladesh Sangbad Sangstha (BSS)