Yes Bank inks agro tech pact with Alterra

Private sector Yes Bank on Tuesday announced an alliance with Netherlands-based Alterra to introduce the knowledge institution's agrofood park concept in India.

The agrofood park model integrates efficient, effective and environment-friendly high-tech agro production, processing and logistics. Alterra is a part of the Wageningen University Research Centre, Netherlands.

"The alliance is aimed at creating awareness about the concept of an agrofood park within the government and among corporate stakeholders in India. Agri-business corporates would be able to access crop management practices and technologies, across the agri-value chain through this model," Yes Bank said in a statement.

Yes Bank and Alterra signed the alliance agreement during a visit by a delegation of Indian Banks' Association (IBA) to Netherlands for reviewing agri-infrastructure financing and cooperative banking in the region.

Managing director and CEO Rana Kapoor was part of the delegation. The others in the delegation were V P Shetty, chairman of Industrial Development Bank of India and K Cherian Verghese, chairman of Union Bank of India.

Kapoor said: "We strongly believe that the techniques and technologies employed in these parks will benefit food-producers, processors and potential investors in India."