NABARD and SFAC ink deal for development of small farm producers
Updated: Jul 05, 2014 02:54:00pm
New Delhi, July 5 (KNN) In order to boost investment in the farm sector, a Memorandum of Understanding (MoU) was signed by National Bank of Agriculture and Rural Development (NABARD) and Small Farmers Agribusiness Consortium (SFAC) for close coordination for implementing schemes for promotion of Producer Organisations (POs).
The SFAC is implementing a scheme of the Government of India whereby the Producers Organisations are given equity support and the financing banks are given credit guarantee cover to enable formation of PO’s.
NABARD will proactively leverage the benefits of the equity grant and credit guarantee fund for FPOs set up by SFAC to ensure that finance for Producer Company flows smoothly, Ministry of Agriculture said in a release.
NABARD would actively collaborate with the SFAC at national, state and district level by participating in the Food Security Mission. NABARD informed that it has a fund of Rs.50 crore for supporting producer organisations, the release added.
The MoU was signed in the presence of Union Agriculture Minister, Radha Mohan Singh here yesterday.
The Minister appreciated the efforts of both institutions to work together to fulfil their mandates efficiently. (KNN Bureau)
The SFAC is implementing a scheme of the Government of India whereby the Producers Organisations are given equity support and the financing banks are given credit guarantee cover to enable formation of PO’s.
NABARD will proactively leverage the benefits of the equity grant and credit guarantee fund for FPOs set up by SFAC to ensure that finance for Producer Company flows smoothly, Ministry of Agriculture said in a release.
NABARD would actively collaborate with the SFAC at national, state and district level by participating in the Food Security Mission. NABARD informed that it has a fund of Rs.50 crore for supporting producer organisations, the release added.
The MoU was signed in the presence of Union Agriculture Minister, Radha Mohan Singh here yesterday.
The Minister appreciated the efforts of both institutions to work together to fulfil their mandates efficiently. (KNN Bureau)
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