Banks asked not to take loan instalments from farmers in Haor areas

Bangladesh Bank has asked scheduled banks to not make farmers in Haor areas pay loan instalments for the time being.

The order comes following the recent downpour and landslides that have damaged crops to a great extent in these backswamps.

The central bank circulated an order on Monday asking chief executives of the banks to refrain from collecting instalments from farmers until the situation improved.

It has also directed them to relax the conditions for down payment.

Loans will be provided to affected farmers to rear cattle inside their households and to produce feeds for cows.

Farmers recently counted huge losses in Sylhet, Sunamganj, Netrokona, Kishoreganj, Habiganj,

Moulvibazar and Brahmanbarhia due to heavy rainfall causing an untimely flooding.

The central bank order said Boro paddy and other crops have gone under water and rotten there causing fishes to die.

It has proposed further initiatives to help farmers make up for the losses.

It has asked the banks to include ‘grace period’ to loans given for cultivating Aman, Robi crops and other alternative importable crops like pulse, spices and corns, and for fisheries.

It has asked for a halt to all certificate cases against the farmers and for disposing of those through negotiation.

No new cases will be lodged against them for the time being.

The central bank will monitor if the directives are being implemented.