Tk 5,000cr fresh stimulus package for agriculture: PM Hasina

File Photo

Prime Minister Sheikh Hasina today announced a new stimulus package of Tk 5,000 crore to provide financial assistance to farmers in rural areas for boosting agricultural production facing the fallout of Covid-19.

“We’re going to undertake a new scheme of Tk 50 billion with maximum five per cent interest rate to help small and medium level farmers to raise food production,” she told a videoconferencing with public representatives and officials in Khulna and Barisal divisions.

“Bangladesh Bank will formulate a new refinancing scheme of Tk 5,000 crore to pump running capital into the agricultural sector. We’ll create this Tk 5,000 crore stimulus package only for the agricultural sector. We’ll disburse money from this fund to farmers at only 5 percent interest,” she said.

The prime minister said this while delivering her introductory speech in a videoconference from her official residence Gono Bhaban with government officials from 16 districts under Khulna and Barishal divisions.

“The rural small and medium farmers will get the loan from the fund and they can use the money in producing agriculture, flower, fruits, fish, poultry etc,” she told the conference from her Ganabhaban official residence in the capital.

Sheikh Hasina simultaneously announced allocation of an increased amount of Tk 90 billion as a subsidy in fertiliser in the next budget as part of government strategy to minimise the impact of the deadly virus on economy.

The prime minister exchanged views and issued directives as the public representatives and officials took part in the virtual conference from 16 costal districts in the two southwestern divisions to review the present coronavirus situation.

The money from this fund will be disbursed among small and medium farmers, including that of poultry and dairy sector, in rural areas, she said.

Meanwhile, the prime minister has asked the authorities concerned to provide farmers with all-out cooperation.