Govt to waive agricultural loans up to Tk10,000 with interests

The government has decided to waive agricultural loans of up to Tk10,000, including interest, for 12 lakh farmers.

The decision was taken at a cabinet meeting held on Thursday. Cabinet Secretary Nasimul Gani announced the decision during a press briefing at the Secretariat in the afternoon.

The meeting, held at the Secretariat in the morning, was chaired by Prime Minister Tarique Rahman. It marked the first official cabinet meeting of the newly formed government.

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Speaking at the briefing, Nasimul Gani said the government approved the waiver in line with its election manifesto. The decision covers agricultural loans of up to Tk10,000, including interest, in the crop, fisheries and livestock sectors.

“The main objective is to ensure social security for poor farmers and to strengthen the backbone of the agricultural sector,” he said.

According to data from Bangladesh Bank, as of 25 February, farmers owe approximately Tk1,550 crore, including interest, to state-owned commercial and specialised banks as well as private commercial banks.

The entire amount will fall under the scope of the waiver.