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Axis Bank has signed a $200-million 7-year bilateral loan deal with the Asian Development Bank (ADB), headquartered in the Philippines.
The deal will help bolster Axis Bank’s efforts to improve farm efficiency by extending customised and affordable agriculture credit to farmers. The bank would effectively leverage its extensive semi-urban and rural branch network to deliver agriculture credit.
In a statement, Sidharth Rath, President & Head Treasury and Transaction Banking, Axis Bank, said, “This commitment from Asian Development Bank will help the bank in strengthening its rural lending and microfinance initiatives, which the bank regards as an integral component of its overall strategy.”
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