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News Highlights

Storage-cum-Financing Partnership by ARGO and FICOBank for the Onion Farmers and Traders

As always, FICOBank remains committed to its business of providing solution to the banking needs of its set of target markets. The Bank, in its desire to help the onion farmers and traders, entered into a Memorandum of Agreement (MOA) with the Argo International Forwarders Inc. (ARGO) on 13 March 2020.

Through this partnership, ARGO will make its cold storage facility available to the onion farmers and traders for warehousing. On the other hand, FICOBank will provide these onion farmers and traders with Bridge Financing, using their warehouse stock receipts issued by ARGO. With it, the clients’ financial needs will be addressed while waiting for their stored onions to be sold at a higher price.

 

 

 

 

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