CoBank, a national co-operative bank, has pledged $5 million, Tuesday, to support agricultural research and education at both land-grant and other U.S. universities.
The fund will also support student scholarships and leadership development programs.
Colorado State University, Iowa State, Kansas State, New Mexico State, Ohio State, Oklahoma State, Texas A&M, Texas Tech and the University of Nebraska among others will receive this fund for their agricultural based research programs.
"This contribution will enhance research and education programs at these schools and promote the continued advancement of American agriculture and rural America," Everett Dobrinski, chairman of the CoBank board of directors said.
The colleges and universities were selected based on their nature and extent of their current agricultural programs and their relationship with the bank.
Last year, the bank contributed $2.5 million to CU Denver Business School to create a center for commodities research and education at the school.
Bob Engel, CoBank's president and chief executive officer said that one of the best ways for the bank to return value to rural America is by supporting agricultural research at academic institutions and training rural business and civic leaders.
Details regarding the allocation of funds to individual universities will be decided over the course of the year.
