Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury today informed the parliament that the government has taken initiatives to support farmers by waiving small agricultural loans and continuing low-interest agricultural credit facilities. The Finance Minister revealed this in reply to a starred question from ruling party MP Md. Mosharraf Hossain (Bogura-4) in the House today.
According to Bangladesh Sangbad Sangstha, the Finance Minister stated that while the government has not taken steps to offer interest-free loans to farmers, a significant decision has been made to waive agricultural loans up to Tk 10,000, including interest. To implement this decision, the government has allocated Tk 1,567.96 crore in the budget, benefiting approximately 13,17,500 farmers nationwide.
The minister also highlighted several ongoing support measures for farmers. The Bangladesh Bank, through its annual Agricultural and Rural Credit Policy and Programme, is providing agricultural and rural loans on easy terms and at comparatively low interest rates. A target of Tk 39,000 crore has been set for agricultural and rural credit disbursement by banks for the fiscal year 2025-26.
Furthermore, Bangladesh Bank formed a special refinance scheme of Tk 1,000 crore on August 25, 2022, to increase wheat and maize production. The scheme, valid until June 30, 2027, allows farmers to receive loans at a 4 percent interest rate. Additionally, loans are being provided at a concessional interest rate of 4 percent for import-substitute crops such as pulses, oilseeds, maize, and spices, with the government providing interest subsidies to banks through Bangladesh Bank. These measures are aimed at strengthening agricultural production and ensuring financial support for farmers across the country.