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Bangladesh Bank extends support for fertiliser, agri implements import

Staff Correspondent | Published: 21:58, Apr 26,2020

 
 

The Bangladesh Bank on Sunday asked all the scheduled banks to allow 360 days usance period against the import of agricultural implements and chemical fertilisers.

A BB circular issued on Sunday mentioned that the importers of the items would get the facility till September 30 this year.

The central bank has been providing policy support for the import of raw materials since the outbreak of the coronavirus in the country.

Usually, the scheduled banks are allowed to provide 180-day usance period for the import of raw materials.

An official of the central bank said that the new facility would help the importers to import adequate amounts of fertilisers.

In turn, the availability of fertilisers would help to keep the supply chain and prices stable during the peak season, the BB official said.

The government has so far announced funds worth Tk 5,000 crore for the farmers to ride out the impacts of the coronavirus pandemic and to keep the country’s agriculture-based economy afloat, he said.

Besides, another Tk 3,000 crore was also released for low income groups along with the farmers to mitigate the impacts of the coronavirus.

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