Cattle fattening sector added to Tk5,000cr refinancing scheme
The Cattle Fattening sector has now been added to the Tk5,0000 crore refinancing scheme made by the Bangladesh Bank last year to ensure food security in the country.
The central bank will distribute the low-interest loans to the agricultural sector with the aim of increasing domestic production and ensuring food security in the global food crisis.
According to the scheme, banks will borrow money from the central bank at 0.50% interest and lend it to farmers at a rate of 4%.
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Farmers have up to 18 months to repay the loan, plus a three-month grace period.
The scheme will last through 30 June 2024, and if necessary, a new timeframe and budget would be established.
The cattle fattening process involves nutritious diets and movement restrictions, according to the Department of Livestock Services.
The current global situation has led to an increase in food prices and a global food crisis as a result of a weakened supply system, prompting the government to adopt measures to deal with the changed circumstances.
