BB announces Tk5,000 crore scheme to boost food production

The Bangladesh Bank (BB) has announced a refinancing scheme of Tk5,000 crore for farmers to ensure food security amid the global crisis.

Under this scheme, farmers will get loans at an interest rate of 4% only, according to a central bank notice issued Thursday.

Besides, banks will be able to borrow from the central bank at an interest of only 0.5% to provide farmers with loans under this scheme.

Farmers can avail the loans till 30 June 2024, which can be extended if necessary, the notice added.

The notice further stated that a global food crisis has occurred due to disruptions in the international supply chain.

Given the situation, the central bank has come up with the decision to finance farmers in order to ensure food security.