01 October 2018 07:23 PM
The ASEAN Business Advisory Council Philippines organised the ASEAN Agriculture Summit 2018 on 1st October 2018 in Manila, Philippines at the request of Indian Ambassador to Philippines. Shri H R Dave, DMD, NABARD accompanied with Shri L R Ramachandran, CGM, DFIBT, NABARD attended the ASEAN Agriculture Summit 2018.
Shri H.R. Dave, Deputy Managing Director, NABARD was the lead speaker on the topic “Inclusive Finance for Agribusiness” and also participated in the panel discussions. ASEAN Agriculture Summit 2018 has brought together various stakeholders of diverse agriculture ecosystem from the 10 ASEAN countries and also presented awards to leading business houses of Asian countries in the Summit. The Champions and Emerging Icons of Inclusive Business, Technology and Innovation in Agriculture were recognised in the first AGROW Awards 2018 across different countries. One of the unique initiative by the ASEAN Business Council is the 3Ms initiatives of Mentorship, Money and Market under their AMEN programme. Subsequent to the panel discussion Shri H.R. Dave, DMD presented technology enabled inclusive finance in agriculture practiced in India. During his presentation he outlined the profile of rural India, the vision and mission of NABARD, challenges in Agri Finance in India, various facilities offered to the farmers in India especially in the field of Insurance, marketing of crops, assured prices for produce, information dissemination to farmers using digital platform and women empowerment. He also outlined the roadmap for improving the agricultural practices in India.
On 2nd October 2018, DMD accompanied by Shri L.R. Ramachandran, CGM, DFIBT, had meeting with Shri Kshatrapati Shivaji, Dean & Executive Director, Asian Development Bank and updated him on development role played by NABARD with specific focus on climate change interventions and establishment of Centre of Excellence in BIRD, Lucknow. Shri Shivaji shared different possibilities of raising resources for climate change project and the role ADB could play through the rupee loan at better interest rate than borrowing through green bonds by NABARD because exchange risk hedge would be by ADB with higher country rating. In the afternoon, the team met the officials of Land Bank of Philippines and presented on various activities of NABARD. Officials of Land Bank also shared their concerns in the achieving the twin objective of a commercial institution and development thrust for Agriculture sector. Land bank primarily is acting as a universal bank with an added mandate to support agriculture in Philippines. Various avenues of partnership between government and the bank to support the rural infrastructure as well as the credit dispensation process were deliberated and they were invited to visit India to see successful models of partnership and also engage Consultants of NABCONS for redefining the role of Land bank in tune with their mandate so as to bring vibrancy in the working of Land bank. There seems to be strong opportunities of engaging with Land bank and provide exposure to senior executives on various activities undertaken by NABARD as an Agriculture Development Bank of India and also take up Consultancy through NABCONS for repositioning Land bank in tune with the objectives of the government and the Central Bank of Philippines.
The major outcome of the visit are -
(i) Generation of strong interest from ASEAN countries in understanding lessons on financial inclusion, micro finance, climate change adaptation and agri finance from India. We can expect more foot falls in BIRD and business for NABCONS
(ii) Working relationship with ADB on climate finance and resource mobilisation
(ii) Exposure visit from the Govt of Philipines and Land bank to India to be coordinated by NABCONS and BIRD.