RAKUB disburses Tk 764cr agri-loan in northwest region

Rajshahi Krishi Unnayan Bank (RAKUB) has disbursed around Taka 764.36 crore agriculture loans in the country’s northwest (NW) region during the last three months and 13 days of the current 2020-21 fiscal year to facilitate increasing crop production and enhance rural economy, BSS reports.

The specialised commercial bank disbursed the loans through its 383 branches in all 16 districts under Rajshahi and Rangpur divisions. Apart from this, the bank recovered loan worth around Taka 360.63 crore and classified loan of Taka 61.06 crore besides deposit collection of Taka 25.05 crore during the same period.

The bank headquartered in Rajshahi has set a target of disbursing loans worth Taka 2,850 crore, recovering Taka 2,300 crore and deposit collection of Taka 1,200 crore during the current 2020-2021 fiscal year.

High officials of the bank revealed these while addressing a review meeting held at the RAKUB’s Boardroom on Thursday related to the progress of the loan disbursement, recovery and deposit collection of the current fiscal.

The meeting also reviewed the disbursement progress of agriculture loans from the Prime Minister’s stimulus package fund.

The state-owned RAKUB has disbursed Taka 324.71 crore agriculture loans among 7,029 farmers through different branches from the Prime Minister’s stimulus package fund. Bangladesh Bank has allocated Taka 319 crore fund from the stimulus package.

Bank Chairman Roisul Alam Mondal addressed the meeting virtually with Managing Director AKM Sajedur Rahman Khan in the chair. Deputy Managing Director Muhammad Idrish and General Managers Ruhul Amin and Mosaddeque Hossain also spoke.

Sajedur Rahman Khan said Prime Minister Sheikh Hasina announced a new stimulus package of Tk 5,000 crore in May last for farmers to boost agricultural production in the backdrop of the Covid-19 fallout.

He said the money from the fund has been disbursed among small and medium-scale farmers, including those in the poultry and dairy sector, in rural areas, at five percent interest.

“Small and medium-scale farmers in rural areas received loans from the fund, and they are using the money to produce agricultural products, flowers, fruits, fish and poultry,” he added. Apart from this, the bank has, so far, disbursed Taka 29.82 crore loans among the borrowers to revive cottage, micro, small and medium enterprises (CMSMEs) that have been affected financially due to the Covid-19 outbreak.

The Bangladesh Bank has allocated Taka 36 crore to RAKUB for the sector.Besides, the existing disbursement of loans at four percent interest for spices is continuing and Taka 171.87 crore has, so far, been disbursed. Sajedur Rahman also said loan disbursement activities to other sectors of the stimulus package announced by the premier are progressing efficiently.

 “We are very much hopeful about attaining the cherished targets in these sectors within the stipulated time,” he added.

He also said the stimulus packages will ultimately contribute a lot towards recouping the losses being triggered by the Covid-19 pandemic.

As the largest development partner in agriculture as well as agro-based industry sector of the northwest Bangladesh, currently, the bank has adopted an effective work plan which is being implemented at the grassroots level to attain all the targets within the stipulated time.