Mumbai, Sept 16: UTI Bank on Monday signed an agreement with Enterplan, UK to fund a eucalyptus plantation project near Bhadrachalam in Khammam district of Andhra Pradesh. The plan envisages lending to small and marginal farmers. The project will be financially supported in the form of a capacity-building grant (on a matching funds basis towards the overall infrastructure and set-up costs to be incurred on the project) by the Financial Deepening Challenge Fund (FDCF) set up by the UK government’s Department for International Development (DFID).
UTI Bank’s agreement with Enterplan Ltd, UK, (which is appointed by DFID, UK to manage FDCF worldwide alongwith Deloitte & Touche) will enable a grant of 92,083 pounds to be made to the bank over the next three years.
UTI Bank will provide long-term loans for five years to small and marginal farmers through a plantation farmers co-operative society. Bureau Report