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On Monday, Axis Bank has signed a $200 million, seven-year bilateral loan agreement with the Asian Development Bank.
According to a statement, the loan will help bolster bank’s efforts to improve farm efficiency by extending customised and affordable agriculture credit, that will help leverage its semi-urban and rural branch network to deliver agriculture credit.
Sidharth Rath, Axis Bank’s treasury and transaction banking head said, “This commitment from ADB will strengthen our rural lending and microfinance initiatives, which we regard as an integral component of its overall strategy.”
