MRA asks MFIs to disburse loans in flood-hit Haor areas

Dhaka,  Mon,  29 May 2017
Published : 13 Apr 2017, 22:16:45
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MRA asks MFIs to disburse loans in flood-hit Haor areas

FE Report


Microcredit Regulatory Authority (MRA) Thursday directed microfinance institutions (MFIs) to provide small loans and suspend instalments of existing small loans in the country's flood-affected Haor areas.

The authority issued a circular in the regard, requesting MFIs to distribute relief materials in the flood-affected areas.

According to Department of Agriculture Extension (DAE), heavy rain and flash flood have inundated more than 0.146 million hectares of Boro cropland in three Haor districts which began on April 01.  

Haor areas are going to face serious crisis with nearly 20 million of the people losing their livelihoods in flash floods, Haor Advocacy Platform said.  

The MRA asked MFIs to submit a report to them on the activities during floods within a month.

This year the Haor belt had its worst experience of flash flood in two decades. There have been eight flash floods during the time. Farmers manage to harvest paddy partially each time due to flash flood. But this year the flood hit the area just before the harvest.

DAE estimated crop loss at around Tk 20.53 billion.

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