Ethiopia

Cooperative Bank assisting farmers, pastoralists, agro-processors

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Addis Ababa, January 8, 2012 (Addis Ababa) - Oromia Cooperative Bank (OCB) is backing in boosting the productivity of the farmers and pastoralist and investors engaged in agro-processing sector.

Bank president Wondimagegn Negera told ENA that the bank is providing loans to farmers and pastoralists through union and cooperatives for the purchase of various agricultural inputs.

The bank is also supporting investors engaged in agro processing sector using direct farmers’ products.

He said the bank is playing significant role in mobilizing domestic resource through accumulation of saving.

The president said the bank is expending its accessibility for farmers and pastoralists.

The bank has obtained more than 60 million birr profit over the past six months against the target 45 million birr.

He said the bank has also distributed 1.3 billion birr loan to its customers.

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