Agriculture Dev Bank to invest further investment in agro sector

Kathmandu, Jan 21: The Agriculture Development Bank is to invest special investment for the commercialization and modernization of agriculture of 14 quake-hit districts. The Bank has Rs 13 billion as authorized capital and Rs 9.86 billion as current capital.

At a programme organised on the occasion of 49th anniversary of the Bank here today, it was informed that a total of Rs 617 billion has been invested so far. Established on January 21, 1968, the Bank was transformed into company on 27 June, 2005.

Addressing the anniversary ceremony, Minister for Finance Bishnu Prasad Poudel urged the Bank to increase investment in the agriculture sector as the government has the policy to commercialization and modernization the agro sector.

Stating that the government was alert not to let the country’s economy towards negative path due to earthquake and border blockade, Finance Minister Poudel stressed that the bank should maintain further financial good governance for the same.

He said, “The Agriculture Development Bank should be made service recipient and information technology-friendly.” The Finance Minister further said that there would be favourable of the employees working in banks only in financial progress of banks.

On the occasion, Minister Poudel unveiled a journal titled “Bank News” published on the occasion of anniversary.

Similarly, Nepal Rastra Bank Governor Dr Chiranjivi Nepal said that additional financial resources should be pumped in for the development of agro, industry, tourism, energy and infrastructure sectors in competitive cost for the sustainable and high economic growth of the country.

He said that the service provided by the Bank to entrepreneurs of rural areas and farmers was significant.

Likewise, Chief Executive Officer at the Bank, Leela Prasad Sitaula, said that the Bank has the policy of collaborating the programmes brought targeting the poor people by the government.