DHAKA, Apr 1, 2021 (BSS) – The Bangladesh Bank yesterday extended the deadline to disburse Taka 5,000 crore stimulus package for entrepreneurs in the farm sector by another three months till June this year.
The central bank issued a notice in this regard asking lenders to disburse the stimulus package within June 30.
The repayment tenure for loans from the stimulus package is 18 months, including a grace period of six months at both the bank’s end and client’s end.
Banks will borrow from the refinancing scheme at 1 percent interest rate and thus lend at 4 percent.
Farmers engaged in six agricultural sub-sectors are entitled to enjoy the low-cost fund.
These are: fruits and flowers, fisheries, poultry, dairy, livestock and the businesses selling agriculture commodities.
The central bank had earlier said a lender was allowed to disburse a maximum of 30 percent of the loans for a sub-sector against the fund allocated for them under the package.
But, the latest notice permitted banks to increase the disbursement ceiling, allowing them to give out 40 percent against their allocation.