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The government has waived Tk 226 crore in agricultural loans for nearly 230,000 small and marginal farmers across northern Bangladesh, fulfilling a key election pledge.
According to Rajshahi Krishi Unnayan Bank (RAKAB), a total of 229,933 farmers have benefited from the initiative, which clears both outstanding principal—up to Tk 10,000—and all accrued interest on their loans.
RAKAB Public Relations Officer Iftekhar Zahid said on Wednesday that the bank implemented the decision within six months of the current government taking office, marking a significant step as the country’s first specialised agricultural bank to carry out such a large-scale waiver.
Of the total amount, Tk 178.92 crore was written off for 179,278 farmers in eight districts of the Rangpur division, while Tk 46.81 crore benefited 50,637 farmers in eight districts of the Rajshahi division.
Officials said the funds were recently reimbursed to RAKAB by the Ministry of Finance, enabling the bank to formally clear these long-standing defaulted loans that many farmers had been unable to repay.
The waiver applies specifically to loans where the principal does not exceed Tk 10,000, offering relief to the most vulnerable farmers burdened by years of unpaid debt.
Stakeholders expect that freeing farmers from these liabilities will encourage fresh investment in agriculture, boost production and strengthen rural economies across the northern region.
RAKAB authorities expressed gratitude to Tarique Rahman for the initiative, reaffirming their commitment to continue farmer-friendly programmes.
Meanwhile, other state-owned and specialised banks are expected to introduce similar loan waiver schemes for distressed farmers in the coming months.