In recent years, agricultural and rural finance programs have been boosted as the private commercial banks (PCBs) along with state-owned commercial banks (SCBs), have come forward to disburse agri-loans in the country.
Bangladesh, a land nourished by fertile deltas, thrives on its agricultural sector. But beneath the swaying crops lies a reality often unseen which is the immense contribution of women farmers.
In the pursuit of agricultural sector development, it’s imperative to enhance the accessibility of loans for marginal farmers.
Agricultural loans serve as a cornerstone for rural farmers, playing a crucial role in sustaining a nation’s food security and rural economy.
Bangladesh, despite its dense population and limited agricultural land, has successfully managed its food supply, largely due to the steadfast dedication and resilience of its farmers.
Agriculture is considered a major source of livelihood for most people in Bangladesh. Hence the role of agricultural credit is immense to accelerate agricultural activities besides introducing modern agricultural management all over the country.
The financial services of Dhaka Bank are specifically designed for different farming groups to provide them with greater returns from their harvest and guard against exploitation from informal money lenders.
To better facilitate our farmers through agri-loans, financial institutions can adopt a more localized approach by understanding regional farming needs and tailoring loan products accordingly.
For better facilitation of the farmers in our country, the introduction of smart and simplified loan application procedures with less paperwork and processing time is a prerequisite.
A robust agricultural sector is vital to our country’s food security and economic growth, which makes it important to support our farmers with financial facilities and protect them from informal lenders.
Since the beginning of agri credit disbursement by the banking sector, the prime focus has been on facilitating farmers directly by providing all types of agri loans promptly.
To better facilitate our farmers, we are focusing on enhancing access and simplifying the application process for agri-loans.
Historically, farmers had very few options on their grips to promote their agri-farming. Informal lenders and MFIs are still the major sources of borrowing for marginal farmers though banks are also scaling up agri-financing programs across the country.
Farmers directly engaged in agriculture, livestock, fisheries, and forestry must be targeted and prioritized for agri-loan provision since agricultural production is imperative for our country’s economic growth.
