Bangladesh Bank has directed all scheduled banks to speed up and give priority to the disbursement of agricultural loans under its refinancing scheme, providing major relief to farmers affected by recent heavy rainfall and crop damage. The move is aimed at helping farmers to recover from losses, resume cultivation and safeguard rural livelihoods.
The directive comes at a time when many districts, especially haor and low-lying areas, are still reeling from the effects of heavy rainfall that has caused damage to standing crops and disrupted agricultural activities.
Priority for Krishak Smart Card Holders
The Bangladesh Bank circular said the loans from the refinancing fund would be distributed to the farmers with a Krishak Smart Card on a priority basis. The scheme is primarily aimed at marginal farmers, landless cultivators, share croppers, small account holders and micro enterprises in agriculture.
But the central bank has made it clear that eligible farmers will not be denied loans if they do not have a Krishak Smart Card yet. The card is intended to facilitate access to government services, subsidies and financial support, but it is not a condition for aid.
How Farmers Can Use
Farmers seeking emergency loans should visit the closest participating bank and bring appropriate identification and information related to farming. Banks have been asked to give priority to Krishak Smart Card holders. Holders of the smart card should carry it while applying.
The loans are expected to help farmers purchase seeds, fertilisers, irrigation services and other essential inputs required to revive agricultural production after weather-related damages.
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Part of a wider digital agriculture push
The Krishak Smart Card project is part of a broader effort by Bangladesh to digitise agricultural services and provide direct support to real farmers. The card is expected to provide access to subsidies, low-interest loans, agricultural inputs, insurance services and weather related information from one platform.
With climate-related challenges facing farming communities, faster access to emergency credit could be an important tool in helping farmers to bounce back and prepare for the next season’s cultivation.
Summary
Bangladesh Bank has asked the banks to prioritise emergency agricultural loans for farmers affected by heavy rainfall and flooding. The holders of the Krishak Smart Card will be given priority, but farmers without the card can also apply. The loans are for crop rehabilitation, input purchases and the restoration of agricultural activities in affected areas.
