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Dairy farmers will now get loan at 4 per cent interest rate instead of 5 per cent from Bangladesh Bank’s Taka 200 crore refinancing scheme.
The central bank today announced to lower the interest rate to 4 per cent from 5 per cent with effect from November 1, said a circular, reports BSS.
In the circular, the BB asked banks and non-bank financial institutions to disburse loans from the refinancing fund to raise milk production and artificial insemination. BB created the fund in 2015.
Now the dairy farmers, individually or jointly, will be able to take loan worth Taka 40,000 to buy a young female cow (heifer) and Taka 10,000 to rear it.
A dairy farmer will be able to take maximum Taka 200,000 for buying four young female calved.