BB orders banks to postpone loan recovery from flood-hit farmers


FE Team | Published: July 24, 2020 18:09:58 | Updated: July 25, 2020 09:35:36


BB orders banks to postpone loan recovery from flood-hit farmers

Bangladesh Bank has ordered all banks to postpone recovery of loans from flood-hit farmers until the situation improves.

The central bank has also ordered disbursement of new farm loans readjusting demand and considering the real picture in the areas where crops have been damaged by the deluge, reports bdnews24.com.

In a set of orders to support the farmers on Thursday, the Bangladesh Bank said the banks will have to give the farmers rescheduling facility by relaxing down-payment provisions.

It asked the banks to encourage certain projects of the farmers, such as poultry and cattle farming, and cattle feed production, for their rehabilitation.

The banks will have to inform the central bank about the progress in implementing the orders by Oct 31.

The government estimates flash floods have caused crop loss worth Tk 3.49 billion.

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