New Delhi/Kolkata: The National Cooperative Development Corporation (NCDC) has secured Euro 68.87 million (Rs 600 cr) loan from Deutsche Bank, Germany’s largest bank, for onward lending to cooperatives in the country, says a press release.
An agreement was inked between NCDC and the German Bank in this regard in presence of the Union Agriculture Minister, Narendra Singh Tomar in New Delhi on Tuesday. The Minister also presided over another first, signing of an agreement between the Indian Chamber of Commerce and NCDC to boost farmers linkages with markets.
The Agriculture Minister said that the Prime Minister has given a new vision to India’s agrarian landscape and to her economic relations with Germany. He added that the Farmer Producer Organizations being set up in the country would be able to access easier credit and market through the NCDC agreements with ICC and Deutsche Bank.
This is for the first time that one of the largest European banks in…