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RAKUB to disburse Tk 1600cr loans in FY 2014-15

 New Nation
 Published: 12:00 AM, 27 July 2014

BSS, Rajshahi :Rajshahi Krishi Unnayan Bank (RAKUB) has set a target to disburse agricultural loans worth Taka 1600 crore in the country’s northwest region during the current fiscal year (FY) 2014-15.Headquartered in Rajshahi, the specialized commercial bank will disburse the loan through its 371 branches for boosting crop production and rural economy as well as generating employment through enhancing agricultural production in all the 16 districts under Rajshahi and Rangpur divisions.The target has also been set to recover loans of Taka 1800 crore to deposit Taka 3800 crore, said Mofazzal Hossain, managing director of the bank.Target has been fixed to disburse Tk 750 crore as crop loan, Tk 400 crore as cash credit, Tk 20 crore for fishery, Tk 75 crore for animal resource, Tk 10 crore as farm and irrigation machinery, Tk 45 crore for agro- based industry, Tk 125 crore as SME, Tk 45 crore for poverty alleviation and Tk 130 crore for other need-based sectors.During the previous fiscal (2013-14), he said the bank disbursed loan of Tk 1430.91 crore and recovered Tk Tk. 1677.14 crore including Tk.463.68 crore classified loan.’We have adopted special credit programme for encouraging the people for setting up solar power, biogas and waste management plants for generating eco-friendly and alternative power to face the power supply deficit,’ he said adding “credit is being extended to the sector on a priority basis.”Tk. 649.54 crore was disbursed among 125915 farmers for crop production and while more than Tk.5.13 crore among 1318 farmers for production of import substitute crop like pulses, oil seeds ,maize and spices at 4 percent subsidized interest rate.He said the bank has been putting in its level best effort to establish a dynamic leadership along with accountability and transparency in all its activities to earn confidence of the clients.As the largest development partner in agriculture as well as agro-based industry sector of the northwest Bangladesh, currently, the bank has adopted multipurpose work plans which are being implemented at the grassroots to make the credit programs easier.Mofazzal Hossain says the bank has been implementing various new programmes to infuse dynamism into its business activities and socio-economic development of the northwest region and the clients have started deriving effective results from the programs. Number of profit-making branch has been increasing gradually.