Agricultural loans should be made easier and more affordable to farmers (Daily Asian Age)

Daily Asian Age published an article on how Bangladeshi farmers are obtaining loans. According to a 2019 study by IFPRI, Bangladeshi farmers typically borrow more than 81 percent of loans from various private sources, including NGOs, relatives, private banks, and moneylenders. The interest rate of these loans is 19 to 63 percent while the interest rate is nine percent at Krishi Bank. But for some unknown reason, only 6 percent of the total loan comes from Krishi Bank. IFPRI’s survey found that 36.4 percent of the total loans were borrowed from NGOs, where the farmer has to pay an interest of more than 20 percent.