IDB to start releasing Taka 1,000cr housing loan from Oct

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DHAKA, August 31, 2018 (BSS) – The Islami Development Bank (IDB) is likely to start releasing Taka 1,000-crore soft loan to extend the housing credit programme across the country under the Bangladesh House Building Finance Corporation (BHBFC).

“The formalities of releasing the loan are underway. We expect that IDB would release the loan in October this year. The loan will be given to people of lower and middle income group, especially in the rural areas, for the construction of multistoried residential buildings,” BHBFC Managing Director Debasish Chakrabarty told BSS.

Finance Minister AMA Muhith and IDB President Bandar MH Hajjar signed the agreement in this regard at the 43rd annual meeting of IDB in Tunisia in April this year.

Talking to BSS, Debasish Chakrabarty said BHBFC will provide low-cost home financing to low-income rural people living outside the metropolis of Dhaka and Chattogram through the IDB assistance.

“BHBFC is going to get the loan from IDB through the government at a lower interest rate. IDB will release the total fund in three years,” he added.

The managing director said the loan will play a vital role to implement the planned housing programme in rural areas as the construction of unplanned houses is severely affecting rural arable land across the country.

“Construction of unplanned structures for housing purposes is destroying a significant amount of arable land in rural areas every year. We hope that our loan programme will help stop such unplanned housing and save arable land in the rural areas,” he added.

Debasish Chakrabarty informed that BHBFC is offering seven types of products to take the services of the corporation to all classes of people.

The products are Nagar Bondhu, Nagar Bondhu Flat, Palli Ma, Abashan Unnyan Reen, Abashan Meramat Reen, Probash Bondhu and Krishak Abashan Reen.

He said BHBFC has disbursed Taka 360.02 crore in 2017-18 fiscal which was Taka 278.51 crore in 2016-17 fiscal and Taka 247.98 crore in 2015-16 fiscal.

BHBFC is giving its field-level officers-employees special training to increase the standard of its loan services. As a result, realization of loans from borrowers has significantly increased, he added.

He said BHBFC has also opened a helpdesk for giving information and solving problems of the customers.

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