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History 

AN IDEA GERMINATES…

The Agricultural Development Bank – "ADB" dates back to the 1800s, when the "Agricultural Bank" a colonial agency with limited financial resources was established as a mortgage lending institution, in the wake of a disastrous hurricane.

 

AND TAKES ROOT…

In 1945, one of the many West Indies Royal Commission Reports suggested that the Agricultural Bank be used to extend credit to the Agricultural Credit Societies and to persons wishing to purchase land for agriculture. This marked the birth of the "Agricultural Credit Bank".

 

THE IDEA GROWS…

The first Branch of the Agricultural Credit Bank was established in Tobago in 1963, to administer credit on the advice of a Reconstruction Committee set up by Government in the wake of hurricane "Flora". Two years later, based on the recommendation of a Finance Institution Committee, the Agricultural Development Bank Act was drafted. The statute was enacted on 25th January, 1968 and the assets and liabilities of the Agricultural Credit Bank were transferred to the "Agricultural Development Bank" (ADB).

 

HAS OFFSHOOTS…

The ADB was mandated to "encourage and foster the development of agriculture, commercial fishing and industries connected therewith and to mobilize funds for the purpose of such development".

The Bank, with a clear vision of being "the first choice for complete financial & support solutions, to transform agriculture into a dynamic, sustainable and competitive sector which promotes socio economic development" makes an invaluable contribution to this transformation as well as towards the achievement of the national goal of food security.

The ADB started its operations at 12 Abercromby Street, Port of Spain. As the staff compliment and demand for loans increased, the Bank moved to 86 Duke Street, Port of Spain in 1971. In 1989 the Bank acquired a new Head Office at 87 Henry Street, Port of Spain, which currently houses its North Branch Office. Expansion continued with conveniently located Branches in San Fernando, Chaguanas, Sangre Grande and Tobago. In 2011 ADB revolutionized its outreach to customers with the establishment of three (3) Mobile Units which offer Bank services to customers in their rural communities.

 

BEARS FRUIT…

The Agricultural Development Bank as the funding arm of the Ministry of Agriculture, Land and Fisheries is a major source of funding for the development of the agricultural and agro-business sectors in Trinidad and Tobago. Its specialist knowledge of the sector is reflected in its holistic financing options, strategic linkages for customer support and flexible terms. ADB offers competitive developmental interest rates which are the lowest amortized rates in the local financial sector. Diverse loan products and services along with the introduction of savings and investment options have been developed in response to customer and sector needs.

 

REGENERATES ITSELF…

The Bank has broadened its mandate to include micro-enterprise financing and support for our farmers’ projects, lifestyle, and community needs. With a Board of Directors chaired by Mr. Winston Rudder, and led by Mr. Sheivan Ramnath, Chief Executive Officer, we offer expanded opportunities for wealth creation with our focus on Growing Stronger Together at the ADB- the Farmers’ Bank.