Magazine article Economic Review

ADBP Provides Credits of over Rs. 82 Billion in 33 Years

Magazine article Economic Review

ADBP Provides Credits of over Rs. 82 Billion in 33 Years

Article excerpt

The total institutionalized credit in the country stood at Rs. 172 billion as on December 31, 1993 of which the share of ADBP was 47 per cent contributing around Rs. 81 billion Rupees and maintaining its top position in institutions providing agricultural credit to farming sector of the country.

The Agricultural Development Bank of Pakistan (ADBP) the major source of institutionalized agricultural credit in the country, has provided credits of over Rs. 82 billion during last 33 years servicing around 3.3 million beneficiary farmers. The ADBP which has completed 33 years of its existence. It was established on February 18, 1961 through the merger of two credit giving institutions, the Agricultural Development Finance Corporation (ADFC) and the Agricultural Bank of Pakistan (ADP) founded in 1952 and 1957 respectively. The main function of this merged institution was set to provide viable credit to the agricultural community for development and modernization of agriculture and to help develop cottage industries and agri-business in rural areas.

In the first year of its operation, the bank could disburse meagre credits of Rs. 31 million only which has touched as high a disbursement figures as Rs. 8.46 billion during financial year 1992-93. Similarly, starting operations with a field network of 4 regional offices and 27 branches in both erstwhile East Pakistan and West Pakistan, the Bank now conducts its operation with 49 regional offices, 332 branches and over 1400 male and female mobile credit officers. …

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