In a major relief measure aimed at supporting smallholders, the government on Thursday approved a waiver of agricultural loans up to Tk 10,000 along with accrued interest, benefiting an estimated 12 lakh farmers across the country.
The decision was taken at the first cabinet meeting chaired by Prime Minister Tarique Rahman at the Cabinet Division. Cabinet Secretary Nasimul Gani announced the move at a press briefing later in the afternoon.
According to the Cabinet Secretary, the waiver will apply to loans in the grain, crop, fisheries and livestock sectors, in line with the government’s election manifesto commitments. “The primary objective is to ensure social security for marginal farmers and to strengthen the backbone of the agricultural sector,” he said.
Data from Bangladesh Bank shows that as of February 25, farmers owe approximately Tk 1,550 crore – including interest – to state-owned commercial banks, specialised banks and private commercial banks. The approved waiver will cover this amount for eligible borrowers.
Officials say the measure is expected to ease financial pressure on small and marginal farmers, many of whom have struggled with rising production costs and climate-related losses.
The initiative marks one of the first major economic decisions of the new administration and signals a policy focus on rural recovery and agricultural stability.