Andhra Pradesh Cooperative Bank would soon emerge as a major source of credit and other facilities to several millions of farmers in the state.
The bank with its wide network of district cooperative central banks and primary agricultural cooperative credit societies would work together with IFC the World Bank’s financial arm to help the local farmers.
In a statement issued recently the bank said it would receive support from the IFC especially in the field of staff training and product designing. The IFC would also help the bank deliver financial products to the female entrepreneurs, the statement added.
Y V Reddy President of the bank claims the A.P state cooperative bank would play a significant role in the agricultural development of the state with its expanding product and client base.
Working together with the IFC would also enable us to have a better portfolio quality and risk management, he remarked.
President said the bank would develop all kinds of financial products and try to meet the agri-finance needs of farmers. The bank would build its capacity to help the farmers having no access to credit and financial services, he noted.