Farm loans rise nearly 6% in H1
The Bangladesh Bank officials hoped banks will meet the yearly agricultural disbursement target easily as they have enough funds available
Lending to the agriculture sector rose 5.56 percent year-on-year to Tk10,800 crore between July and December of the current fiscal year, according to central bank data.
The disbursed volume amounted to 44.77 percent against the target for agriculture credit disbursement in the 2019-20 fiscal year. The figure was 46.93 percent, or Tk10,231 crore, in July-December period in the last fiscal year.
The central bank officials hoped that banks will meet the agricultural disbursement target easily as they have enough funds available.
The Bangladesh Bank has set a farm loan disbursement target of Tk24,124 crore for the current fiscal year, up by 10.66 percent from previous fiscal year's target.
The outstanding loan in this sector stood at Tk43,026 crore at the end of December 2019. In the first half of the current fiscal year, banks recovered an amount of Tk11,500 crore of the previously disbursed agri-credit.
