The New Nation - Internet Edition

BUSINESS REPORT

Bangladesh Bank yesterday asked the country's commercial banks to provide short term loans at easy interest rates to fishermen in its cyclone-affected areas.

The central bank gave the directive yesterday at a bankers' meeting held at the Bangladesh Bank with Governor Dr Salehuddin Ahmed in the chair.

On November 15, 2007, Cyclone Sidr wreaked havoc in the Sundarbans and adjoining costal areas of southern Bangladesh leaving more than 4,000 people dead or missing and over 50,000 people injured.

"Bangladesh Bank advised the banks, particularly private commercial banks, which have no branches in the remote areas, to link up with non-governmental organisations (NGOs) for ensuring financing facilities in the cyclone-hit areas," a senior official of the Bangladesh Bank told The New Nation.

The central bank also advised the banks to provide loans to the fishermen after consultations with local public representatives to minimize credit risks, he added.

"The BB has taken the fresh move aiming to restore normal economic activities in those areas in line with the chief adviser's directive," another BB official said, adding that the meeting will review the overall position of credit, deposit and liquidity situation in the country's banking system.