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Rural Finance and the Internet

As a low-cost forum to promote companies, research institutions and even governmental entities the Internet is widely acknowledged. In OECD countries you will hardly find a private enterprise which does not advertise or present itself within the so-called World-Wide-Web (WWW). Once you have the necessary hardware (computer, modem and telephone-line), pages from the remotest places of the world are accessible. The information gap between developed and developing countries is getting smaller and in the next decade it might be unnecessary to order printed publications. Also FAO like other multilateral agencies has been using Internet now for several years and many of its databases and publications can be accessed now within seconds. The overall experience is very positive and more and more information will be placed there in the future.

Rural financial institutions on the net

Even though the list of financial institutions accessible through Internet is already long, only few rural financial institutions in developing countries currently using this new mass medium. The number of banks world-wide providing information through Internet is difficult to estimate and every day new financial institutions are launching their first pages. According to so-called Web-directories approximately 2,500 companies are already accessible with homepages in English for an international audience. The number of homepages of commercial banks, credit cooperatives, savings banks etc. with regional significance might be around 5,000 (1,800 financial institutions in the United States are listed).

Internet and Development Banking

Above all development banks and their regional associations should try to reach an international audience. Most bi- and multilateral donor agencies are already using the World-Wide-Web as source to get information quickly and without obligation. Research work - commonly the first stage of each project - can be eased. Moreover, due to declining public funds, development banks are forced to search for new financial resources. A broad information base, easily accessible for possible creditors, is indispensable for this huge task of resource mobilisation.

However, advertisement or dissemination of information is just one possible field of use of the new technologies. Internet is not only able to provide electronic pamphlets but also might facilitate global networking and banking. Therefore it can be used to strengthen regional and world-wide cooperation of institutions with a similar mission and vision. The regional Rural and Agricultural Credit Associations (RACAs) were founded in order to stimulate and promote cooperation, to strengthen institutional capabilities and to assist members in obtaining necessary capital. Internet provides now the technological instruments to meet requirements of global cooperation. It allows data exchange, electronic mail, fund transfer systems between banks (similar to the SWIFT system) and access to banking accounts and other services world-wide. Homepages, when updated regularly can be used as electronic newsletters, giving information on meetings, new research work, providing profiles of members, financial statements for the general public, contact details etc. Internet is doubtless just a tool, a new kind of media. But since it is a low-cost and fast technology, it should be used actively to go ahead on the way that is described by the RACAs vision.

Source: Giehler, T. Rural Finance and Internet in Asia Pacific Rural Finance, July - Sept. 98. Mumbai



Outside Links to Homepages of Banks
covered by AgriBank-Stat


Coperative Central Bank - Cyprus www.coopbank.com.cy
The Agricultural Bank - Iran www.agri-bank.com
Farmers' Bank - Sudan www.mozareabank.com
Agricultural Bank of China www.abchina.com
National Bank for Agriculture and Rural Development (NABARD) - India www.nabard.org
Oriental Bank of Commerce - India www.obcindia.com
State Bank of India www.statebankofIndia.com
Bank Rakyat Indonesia www.bri.co.id
National Agricultural Cooperative Federation - Korea www.nacf.co.kr
Bank Pertanian Malaysia www.agrolink.moa.my/bpm
Agricultural Development Bank - Nepal www.adbn.gov.np
Agricultural Development Bank of Pakistan www.adbp.org.pk
Land Bank of the Philippines www.landbank.com/lbp.htm
Philippine National Bank www.pnb.com.ph
People's Bank - Sri Lanka www.peoplesbank.lk
Bank for Agriculture and Agricultural Cooperatives - Thailand www.baac.or.th/eng_baac/
    home.htm
Nacional Financiera Boliviana (NAFIBO) S.A.M. www.nafibo.com.bo
Banco Agrario - Colombia www.bancoagrario.gov.co
Banco del Estado (BEDE) - Ecuador www.bancoestado.com
Corporación Financiera Nacional (CFN) - Ecuador www.cfn.fin.ec
Banco Multisectorial de Inversiones (BMI) - El Salvador www.bmi.gob.sv
Banco Desarrollo Rural - Guatemala www.banrural.com
Fideicomisos Instituidos en Relación con la Agricultura (FIRA) - Banco de México www.fira.gob.mx
Banco de Desarrollo Agropecuario (BDA) - Panama www.mida.gob.pa/bda/bda.html
Banco Nacional de Fomento (BNF)- Paraguay www.bnf.gov.py/entrance.htm
Crédito Agrícola de Habilitación - Paraguay www.cah.gov.py
Fondo Ganadero del Paraguay www.fondogan.gov.py
Corporación Financiera de Desarrollo S.A. (COFIDE) - Perú www.cofide.com.pe
Banco de la República Oriental del Uruguay (BROU) www.brounet.com.uy
Fondo de Desarrollo Agropecuario, Pesquero, Forestal y Afines (FONDAFA)- Venezuela www.fondafa.gov.ve
Agricultural Bank of Turkey www.ziraat.com.tr
K-REP - Kenya www.k-repbank.com/index.htm
Land Bank - South Africa www.landbank.co.za
Moldova Agroindbank www.maib.md/en
Caisse National de Crédit Agricole (CNCA) - Morocco www.cnca.co.ma

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