Project Materials

BANKING FINANCE

ROLE OF COMMERCIAL BANK IN FINANCING AGRICULTURAL PROJECT

ROLE OF COMMERCIAL BANK IN FINANCING AGRICULTURAL PROJECT

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ROLE OF COMMERCIAL BANK IN FINANCING AGRICULTURAL PROJECT

ABSTRACT
Financing an agricultural project is the gradual enhancement of a large, matured, and organised state of the human aspect of labour in any organisation in order to make him familiar with his duties and thus perform effectively in his duties towards playing a role in this subject.

Banks have gone to considerable lengths to train their employees through various off-the-job training methods. On the job, sending to seminars and conferences, and so on.

Financing agricultural programmes, such as the financing of MBA programmes in banking and finance at the University of Ibadan, have evaluated these programmes by scrutinising their customers’ balance sheets and identifying the attributes of financing agricultural in increased profit,

and have finally been advising on the subject by explaining to their business and industrial organisation customers the needs and benefits of training and motivating.

INTRODUCTION TO CHAPTER ONE

1.1 STATEMENT OF THE PROBLEM AND THE PURPOSE OF THE STUDY

The primary goal of this research is to learn from the leader (first bank as the commercial bank) and the beneficiary (farmers and agriculturists) how effectively agricultural projects are financed in Anambra state as a result of commercial banks’ dominant and vital role. Since the creation of the first bank in 1894, it has provided financial aid to farmers.

The goal of the research

v To look into how commercial banks support agricultural projects in Anambra state.

v To describe the role of a commercial bank in the funding of agricultural projects in Anambra state.

v To identify the places in Anambra state where commercial banks support agricultural projects.

v To identify commercial banks’ goals for agricultural projects in Anambra state.

Finally, the interaction between commercial banks and agricultural projects in Anambra state will be investigated.

1.2 THE RATIONALE FOR THE STUDY

The purpose of this study is to identify how commercial banks finance agricultural projects in Anambra state. They are listed below.

v To learn how commercial banks make decisions when financing agricultural projects in Anambra state.

v Determine the mechanism through which a commercial bank can finance agricultural projects in Anambra state.

v To recognise the commercial bank’s efforts in financing agricultural projects in Anambra state.

v To recognise the factors involved in commercial banks financing agricultural projects in Anambra state.

v To identify the locations in Anambra state where commercial banks will finance agricultural projects.

1.3 SIGNIFICANCE THE STUDY

Due to the astronomical population growth that is currently occurring without a corresponding increase in agricultural production to feed the growth in population,

particularly in developing countries, the people who will benefit the most from this study are the national and state governments, particularly Anambra state, commercial banks, farmers, and readers.

The federal government stands to benefit from this study by better understanding the effects of various monetary policies on the effective operation of commercial banks in regard to loans issued to farmers.

The state government, particularly Anambra. In the same spirit, consider the extent and impact of commercial bank lending policies in regard to farmers in the state,

as well as the different ways they can assist in alleviating farmers’ difficulties in obtaining loans and, as a result, increasing production in the state.

1.4 DEFINITION OF TERMS

Loans are sums of money given by a bank to clients or anyone who meet the criteria for such funds.

The bank rate, sometimes known as the discount rate, is the rate of interest charged by the central bank to commercial banks and other financial institutions for discounting their bills.

Banker draughts are issued by commercial banks for the purpose of settling debts and are as genuine as physical cash.

Special deposit: This is a directive from the central bank to commercial banks to retain special deposits in excess of their statutory requirements.

Current account: This is the most common sort of bank account used by businessmen and other groupings of individuals and organisations that often utilise money.

Cheques: A cheque is a written order given to a bank to pay a specific amount of money to a named person or bearer on a specific date.

Drawer: the owner of the account who makes checks to his creditors.

Drawee: The bank to whom the checks will be handed and cashed.

Payee: This is the individual to whom the cheques are made payable when they are presented to the bank for payment.

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