Eastern Bank yesterday launched a collateral free credit facility for farmers to buy agricultural machineries and equipment.
Any individual farmer can avail the quarterly instalment-based term loan— EBL Projukti—ranging from Tk 10,000 to Tk 150,000 for maximum of two years.
Maximum 70 percent of machinery price will be provided as a loan under the facility, which is designed only for the end users, the bank said in a statement yesterday.
Atiur Rahman, governor of Bangladesh Bank, and Ali Reza Iftekhar, managing director and chief executive of EBL, launched the product at a press conference in the capital.
Rahman also gave away some cheques to the farmers at the launch ceremony.
Any Bangladeshi farmer, aged between 22-65 years and directly engaged in farming, will be
eligible for the loan, according to the statement.
Farmers have to open a current/savings account and acquire a national ID card/agricultural input card or any photo ID to apply for the loan. No fixed amount of cultivable land is required to be shown, the bank said.
Any individual farmer can avail the quarterly instalment-based term loan— EBL Projukti—ranging from Tk 10,000 to Tk 150,000 for maximum of two years.
Maximum 70 percent of machinery price will be provided as a loan under the facility, which is designed only for the end users, the bank said in a statement yesterday.
Atiur Rahman, governor of Bangladesh Bank, and Ali Reza Iftekhar, managing director and chief executive of EBL, launched the product at a press conference in the capital.
Rahman also gave away some cheques to the farmers at the launch ceremony.
Any Bangladeshi farmer, aged between 22-65 years and directly engaged in farming, will be
eligible for the loan, according to the statement.
Farmers have to open a current/savings account and acquire a national ID card/agricultural input card or any photo ID to apply for the loan. No fixed amount of cultivable land is required to be shown, the bank said.
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