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National Cooperative Development Corpn secures Rs 600 cr loan from Deustsche Bank

Wednesday, 14 Apr 2021
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The National Cooperative Development Corporation (NCDC) has secured EUR 68.87 million (Rs 600 crore) loan from Deutsche Bank for onward lending to cooperatives in the country. 
 
An agreement was inked between NCDC and the German Bank in this regard. An agreement was also inked between the Indian Chamber of Commerce and NCDC to boost farmers’ linkages with markets.
 
The Farmer Producer Organisations being set up in the country will be able to access easier credit and market through the NCDC agreements with ICC and Deutsche Bank, this will help small and marginal farmers. 
 
Set up in 1963, NCDC is a development finance statutory institution under the Ministry of Agriculture and Farmers Welfare. It has extended loans to the tune of EUR 16 billion to cooperatives of various sizes since 2014.
 
 
 
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