BRAC to write off Tk 100 crore in micro-credit

Dhaka, Dec 6 (bdpremnews.tk) - BRAC has decided to waive micro-finance loans totalling Tk 100 crore that had been previously disbursed in cyclone-hit areas, the NGO said in a statement Thursday. The decision was taken after an initial assessment of the Sidr-affected areas, the statement said. The NGO had earlier decided to defer until March the collection of micro-finance loan installments from its borrowers in the cyclone-ravaged south. BRAC will continue to disburse new loans to support income generating activities. The organisation will also undertake extensive rehabilitation programmes in agricultural, fisheries and livestock sectors of those areas worst hit by Cyclone Sidr, the statement added.