March 21, 2008

 

Bangladesh Bank urges easier lending to poultry sector

 

 

Bangladesh Bank Wednesday ( March 19, 2008) asked commercial banks to provide fresh loans on an emergency basis to help rehabilitate the poultry farms devastated by recent bird flu outbreaks.

 

This is to help overcome the affect of the virus on the rural economy, Bangladesh Bank Governor Dr Salehuddin Ahmed told reporters.

 

Apart from helping the rural economy, it would also help solve nutritional issues, he added.

 

He said the central bank has advised the commercial banks to strengthen lending to the sector at low interest rates, which could be similar or even lower than the rate for agriculture loan.

 

Bird flu has caused a massive damage to the poultry sector and its now urgent to undertake rehabilitation activities, according to a circular issued by the bank.

 

The central bank advised the banks to relax downpayment conditions for rescheduling loans and disburse fresh loans as early as possible.

 

It has also advised to suspend recovering previous loans.

 

The central bank has also advised the commercial banks to monitor loan disbursement activities so that the poultry farmers are not pressured to get loans.

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