BB raises FY25 agri loan disbursement target by 9pc

Business Report :

The Bangladesh Bank has decided to extend its agricultural loan disbursement through commercial banks for the ongoing fiscal year 2024-25 (FY25) by 9 per cent year-on-year to Tk38,000 crore.
The target has been raised in order to achieve GDP growth through increasing the production of agriculture in the country and to control inflation, the central bank announced at a press briefing on Thursday at the Jahangir Alam Conference Hall in its headquarters.
According to the central bank, the move has been taken considering the need for sufficient credit flow in the agricultural sector. As per the announcement, the Bangladesh Bank has raised the loan disbursement target under its Agricultural & Rural Credit Policy and Programme by 9 per cent from last fiscal year’s target of Tk37,153.90 crore.
In the last fiscal, the banks distributed Tk35,000 crore as agriculture, which was some Tk2,153 crore short of the target.
Considering the demand, the banking regulator has set a target of disbursing Tk12,615 crore through state-owned commercial and specialised banks, Tk24,121 crore through private commercial banks, and Tk1,264 through foreign commercial banks.