A farmer’s life feels like an invisible burden hanging from the shoulders. From the outside, all that is visible is a person working in the fields, but inside accumulate account books, calculations of interest, and the sighs of unpaid debt. Debt here is not just money, it is sleepless nights, an uncertain future, and broken dreams. The debt that once arrived with the promise of support has gradually taken the form of shackles. When a farmer sows seeds in the field, they do not sow crops alone, they sow fear along with hope. Even when the harvest comes home, certainty does not follow, because before profit stands the demand of debt. This debt has wrapped itself around the farmer’s feet in such a way that they can walk, yet cannot move forward. Every decision of life, every effort, ultimately gets stuck in a cruel reality there is debt, there was debt, and there will be debt.
Farmers are the backbone of Bangladesh’s economy. They ensure our food security, they arrange the rice on our plates every day. Yet, financial stability is rarely seen in their lives. The government or various institutions initially arrange loans to support farmers. Loans are used as a tool so that crop cultivation, irrigation systems, and the purchase of fertilizer and seeds can be done easily. But reality is different. The loan system has developed in such a way that even after completing their work, farmers cannot fully repay their loans. Instead, month after month, the burden of interest and other charges makes them even more directionless. A farmer works tirelessly to produce crops so that food reaches the mouths of a country’s people. However, in many cases, it is seen that unable to bear the burden of debt, that farmer commits suicide.
In rural areas, it is seen that a farmer takes a loan of 50 thousands to sow paddy. At the end of the month, by selling the paddy, he is able to repay only a small part of the principal loan. But due to interest, the loan has increased compared to before. As this debt grows, the money available for his daily living expenses decreases. Some farmers are forced to take new loans to repay old ones. At one point, it is seen that the amount of debt becomes far greater than their production. Even floods, droughts, or other natural disasters further weaken their financial condition.
The main reason farmers cannot repay their loans is the harsh reality of this loan system. First, farmers’ sources of income are seasonal. They depend on one or two crops throughout the year. If that crop does not do well, problems in repaying loans appear immediately. Second, the interest rate on loans is often extremely high. Although the purpose of providing loans is support, the interest process turns it into a means of pressure. Third, farmers lack financial education and information. Many farmers do not know how to plan loan taking and repayment. As a result, debt keeps increasing. Fourth, administrative complexity and corruption in many cases harm farmers. The loan process is long and complicated, and sometimes intermediaries create additional burdens for farmers. Finally, natural disasters and market instability make farmers’ income uncertain, further reducing the possibility of loan repayment.
To solve the problem of farmers’ debt, measures need to be taken from multiple directions. First, the government must reduce the interest rate on farmers’ loans as much as possible. This interest should be controlled in such a way that loans do not become a burden for them. Second, an easy and fast loan repayment process should be created for farmers. Through mobile banking and digital transactions, they will be able to repay loans easily and additional charges will be reduced. Third, providing financial education to farmers is essential. Awareness about loan taking and repayment planning, budgeting, and savings strategies will help them become debt-free. Fourth, government insurance or incentive systems are needed to protect farmers from natural disasters or market instability. For example, in case of floods, droughts, or a fall in crop market prices, farmers should be given the opportunity to repay loans at low interest. Fifth, a neutral and transparent role of local administration and intermediaries must be ensured. This will reduce deception and additional burdens on farmers. In addition, solutions related to loans and income can be addressed through cooperatives or farmer organizations. Through cooperatives, farmers can support one another and reduce the pressure of loan repayment.
This debt-related problem of the farming community is not only personal, it is also a national economic issue. If farmers can become debt-free and financially independent, their production capacity will increase and the country’s food security will become stronger. The initial purpose of providing loans was to support farmers, but in today’s reality, it has become a burden for them. The government should take effective measures to free farmers from debt and restore the normal flow of their production.
