Bangladesh Bank asks all banks to fast-track loans to farmer

Your Ad Here

Dhaka, Nov 19 (bdprem.com) –Bangladesh Bank Monday asked all banks to come forward and assist the farmers devastated by mega-cyclone Sidr with immediate agricultural loans. The central bank also said it would provide sufficient funds to import necessary foodstuffs to avert a crisis in the country. Bangladesh Bank governor Salehuddin Ahmed briefed reporters after launching Ahsania-Malaysia Hajj Investment Finance Company at Hotel Sonargaon in the capital. "Many kinds of crops have been damaged throughout many districts due to the cyclone and tidal surge," Salehuddin said. "We have ordered state-owned banks as well as specialised and private banks to implement the Agriculture Loan Programme, so we can recover losses as early as possible." The BB governor said a decision on whether outstanding agricultural loans would be wavered was up to the top levels of government. "Farmers need adequate farm loans right now, we are giving priority to that at the moment," said Salehuddin. The central banker was unwilling to estimate the extent of any possible national shortfall in food supplies. "We can't predict that right now. But we [the central bank] are providing a lot of money to import essential produce." Salehuddin said over $46 crore had been repaid to the Asian Clearing Union in the last session covering the Sept-Oct period. "Such a large amount of money has never been paid before, and we will provide more money than that if required," he said.