Dhaka, Oct 15 (bdnews24.com) – Livestock and fishery farmers will now be able to avail microcredit from the government free of interest.
Fisheries minister Abdul Latif Biswas launched the service under two directorates of the ministry at a programme in Sirajganj's Belkuchi upazila on Saturday.
Twenty farmers from Borhodul union availed loans at the launch ceremony.
The ministry has created a Tk 600-million fund for the project. A farmer will be able to avail a maximum of Tk 50,000 for cattle and buffalo farming, Tk 40,000 for goat and sheep farming and Tk 20,000 for poultry farming.
However, the loan will not be handed directly over to the farmers. Officials of the directorates would buy the animal for the farmer using three-fourths of the fund. The remaining amount would be given to feed the animal.
This is the first microcredit programme launched by the government. Non-government organisations have been running such programmes for long that drew flak for their high interest rates.
The farmers will be given a one-year grace period before they start paying the loan installments.
After the launch, the minister handed over loan cheques to 20 farmers at Tangail's Bhuapur.
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