Farmers with smart cards to get priority in farm loans: BB

Marginal and landless farmers holding farmer smart cards will receive priority in loan disbursement under the Bangladesh Bank’s refinancing scheme.

Banks will open Tk 10 accounts for these cardholders and prioritise them for credit allocation under the scheme, in line with the "Farmers Smart Card Policy-2025" proposed by the Department of Agricultural Extension, according to a circular released by the central bank today.

The banking watchdog, however, directed lenders to make efforts to ensure that marginal and landless farmers who do not possess these cards are not deprived of access to loans under the programme.

The instructions also asked banks to prioritise loans for marginal and landless farmers who suffered crop losses caused by recent heavy summer rains.

Extensive damage to ripe paddy and other crops has been reported in different parts of the country, particularly in haor areas.

Priority must be given to the affected marginal and landless farmers in the haor areas of Sylhet, Sunamganj, Habiganj, Kishoreganj, Netrokona, and Mymensingh, as well as in other affected districts, the circular said.