BB issues guideline over Tk5000cr stimulus for agriculture

Sunbd Desk || Published: 2020-04-13 13:27:26 || Updated: 2020-04-13 13:27:26

The central bank has introduced the scheme of Tk5,000 crore titled ‘Special Incentive Re-financing Scheme for Agriculture Sector’

Bangladesh Bank (BB) on Monday issued a guideline for the stimulus package of Tk5,000 crore announced by the government for agriculture sector to boost production in a bid to overcome the Covid-19 impact.

The central bank has introduced the scheme of Tk5,000 crore titled, “Special Incentive Re-financing Scheme for Agriculture Sector,” for ensuring smooth flow of capital for non-crop agriculture sub-sectors which are highly dependent on working capital, including seasonal flower and fruit cultivation, fisheries, poultry, dairy and livestock.

In order to take the loan facilities, interested banks and financial institutions will have to ink a participation agreement with the Bangladesh Bank, reports BSS.

The scheduled banks will pay 1% interest to the central bank for the loan, however, they can take maximum 4% interest from their clients.

The banks will repay the money with interest to the central bank within 18 months, including six months grace period.

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