BB rolls out Tk 3,000cr agri credit scheme for Rajshahi, Rangpur

The Bangladesh Bank (BB) has introduced a Tk 3,000 crore refinancing scheme to boost agriculture-based economic activity in the Rajshahi and Rangpur divisions.

The three-year scheme, effective from July 6, will support the entire agricultural value chain from production, storage, processing to marketing and exports, BB said in a circular yesterday. Through the support, it aims creating jobs and strengthening rural incomes

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The central bank will refinance participating banks at 4 percent interest, and banks may lend to borrowers at a maximum rate of 9 percent.

The fund will be allocated as follows: 15 percent for agricultural production, 35 percent for storage, logistics, cold chain and marketing infrastructure, 35 percent for agro-processing and agriculture-based industries, and 15 percent for agricultural exports.

Loan ceilings vary by category: up to Tk 30 lakh for agricultural production, up to Tk 40 crore for storage, logistics, cold chain, marketing infrastructure, agro-processing and agriculture-based industries, and up to Tk 15 crore for export-oriented agricultural projects.

Only fresh loans will qualify under the scheme. Borrowers classified as defaulters in the Credit Information Bureau (CIB) will be ineligible, and the funds cannot be used to reschedule or adjust existing loans.

The scheme forms part of BB’s Tk 60,000 crore stimulus package aimed at supporting the private sector, boosting investment and reviving the economy.

BB expects the package to create more than 25 lakh direct and indirect jobs across industries, SMEs, agriculture, exports, startups and youth employment initiatives.

Industry insiders described the package as a countercyclical measure typically suited to periods of weak demand and low inflation.

Bangladesh currently faces a more complicated situation, with slowing growth alongside persistently high inflation, they added.