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Tuesday, August 9, 2011

GTBank loans N5.55billion to agricultural projects

In an effort to boost capacity, increase production and employment opportunity in the nation’s agriculture sector, GTBank has given out N5.55billion in loans to eight commercial agricultural projects across the country.

Vanguard reports that the funds provided by the bank through its Commercial Agriculture Credit Scheme (CACS) have been put to use in almost all aspects of agriculture ranging from crop and animal farming to fishery.

Segun Agbaje, the Chief Executive of GTB was quoted as saying they believe that profitability potentials inherent in the agriculture sector would be enough to attract financing, making it a sustainable profitable business for banks like GTB. Read more.

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