Bangladesh Bank (BB) on Sunday revised key provisions of its Tk 10,000 crore agricultural refinance scheme, updating the source of the fund while reaffirming the scheme's three-year tenure, reports BSS.
The central bank issued a circular replacing Sections 3 and 4 of the original guidelines issued on June 8, 2023.
Under the revised guidelines, the Tk 10,000 crore refinance fund will be sourced from the surplus liquidity of scheduled banks maintained under the management of Bangladesh Bank.
The central bank said the revision formally clarifies the funding mechanism for the scheme, which is designed to support agricultural lending.
Bangladesh Bank also confirmed that the refinance scheme will remain effective for three years from June 8, 2023, the date of the original circular.
The refinance facility is intended to boost domestic agricultural production, strengthen food security and generate employment by expanding economic activities in rural areas, the central bank said.
It added that all other provisions of ACD Circular No. 01, issued on June 8, 2023, will remain unchanged and continue to be effective.
Bd-pratidin English/ Jisan
