RAKUB helps farmers rebound | The Asian Age Online, Bangladesh

Rajshahi Krishi Unnayan Bank (RAKUB) Chairman Raisul Alam Mondal addressing a discussion of RAKUB’s 522nd board meeting virtually on Monday. -BSS

Rajshahi Krishi Unnayan Bank (RAKUB) has been playing an effective role in recouping the existing losses being caused by the novel Coronavirus (Covid-19) and flood in the country’s northwest region.The specialized commercial bank has been providing loans to the affected people in agriculture and other sectors so that they can get back to their normal life after the best uses of their borrowed money.The bank directors said these while taking part in the discussion of RAKUB’s 522nd board meeting virtually on Monday while its Chairman Raisul Alam Mondal presided over it.

Through its 383 branches at present, RAKUB has been operating its activities as the largest development partner in all the 16 northwest districts of Rajshahi and Rangpur divisions targeting the agriculture sector and all its sub-sectors. Along with the chairman, Directors Abdul Wahab Bhuiyan, Tofazuddin Ahmed, Sudhendra Nath Roy and Dr Abu Sayed Nasir Uddin Khan joined the meeting from their respective offices virtually.

RAKUB Managing Director Sajedur Rahman Khan and some other directors were present at the meeting in-person held at the bank’s board room. Sajedur Rahman Khan said RAKUB has disbursed around Taka 920.70 crore agriculture loans in the country’s northwest (NW) region during the first four months of the current 2020-21 fiscal year to facilitate increasing crop production and boosting rural economy.

Apart from this, the bank recovered loans of around Taka 703 crore including classified loan of Taka 80 crore besides deposit collection of Taka 111 crore during the same period. The bank headquartered in Rajshahi has set a target of disbursing loans of Taka 2,850 crore, recovering Taka 2,480.63 crore and deposit collection of Taka 1,200 crore during the current fiscal year.

The state-owned RAKUB has disbursed Taka 327 crore agriculture loans among 7,133 farmers through different branches from the Prime Minister’s stimulus package fund to boost agricultural production in the backdrop of the Covid-19. Bangladesh Bank has allocated Taka 416 crore fund from the stimulus package.

Sajedur Khan said the money from the fund has been disbursed among small and medium-scale farmers, including those in the poultry and dairy sector, in rural areas, at five percent interest. “Small and medium-scale farmers in rural areas received loans from the fund, and they are using the money to yield agricultural products, flowers, fruits, fish and poultry,” he added.

Other than, the bank has disbursed Taka 36 crore loans among 1,062 entrepreneurs to revive cottage, micro, small and medium enterprises (CMSMEs) that have been affected financially due to the Covid-19 outbreak. The Bangladesh Bank has allocated Taka 36 crore to RAKUB for the sector.Besides, the existing disbursement of loans at four percent interest for spices is continuing and Taka 211 crore has, so far, been disbursed among 25,047 farmers.

Sajedur Rahman also said loan disbursement activities to other sectors of the stimulus package announced by the premier are progressing efficiently. “We are very much hopeful about attaining the cherished targets in these sectors within the stipulated time,” he added. He also said the stimulus packages will ultimately contribute a lot towards recouping the losses being triggered by the Covid-19 pandemic.

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