• Financial

This time Bangladesh Bank will give 500 crore rupees to accelerate the rural economy

  • Financial
  • 05 January, 2022 11:41:48

Photo: Collected

News Desk: A scheme of Taka 500 crore has been formulated from the own funds of Bangladesh Bank for the people of the city who have lost their jobs due to epidemic Kovid-19 and have been forced to return to their villages. Funding and tenure will be extended as required.

On Monday, Bangladesh Bank issued a circular in this regard. The initial fund of this scheme is Tk. 500 crore and the term has been extended till 31st December, 2024.

The circular further said that all types of banks, including state-owned and specialized banks, who wish to participate in the program, can apply along with the Agriculture Department of Bangladesh Bank. Banks have been asked to apply for the scheme within 10 working days from Monday.

Loan interest:

Under this scheme, a customer can be given a loan up to a maximum of Tk 5 lakh without collateral at 6% interest. Under this scheme, banks will get refinancing facility from Bangladesh Bank at 0.5 percent interest.

Who will get this loan:

The circular said local businesses with low capital, purchase of small and medium vehicles in the transport sector, small scale industries, fish farming, cattle and poultry rearing, information technology service centers and other service generating activities, home construction / repair, vegetable and orchard, These loans can be disbursed in the areas of purchase of agricultural machinery and marketing of crops.

Loan term:

According to the circular, the loan is administered by the Agriculture Department of Bangladesh Bank and the term of the loan is determined based on the loan amount. In case of loan up to Rs. 2 lakhs, grace period will be 3 months and maximum repayment period is 2 years. On the other hand, in case of loans up to Rs 5 lakh, the grace period will be 6 months and the maximum repayment period is 3 years.

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