Assam launches Rs 250 crore fund in collaboration with World Bank to boost agriculture sector
The World Bank and other multiple stakeholders have joined forces to establish a Rs 250 crore fund in Assam promote small and medium units in the agriculture sector.
The venture capital fund, Caspian Impact Investment Adviser, has partnered with the Assam Rural Infrastructure and Agricultural Services (ARIAS) Society to launch the Assam Agribusiness Investment Fund (AAIF), aimed at accelerating growth, agricultural productivity, and employment generation in the state, reported The Assam Tribune.
ARIAS, designated as the anchor investor for AAIF, will collaborate with Caspian Equity as the fund manager. The fund will primarily invest in small and medium enterprises in the agribusiness and allied sectors.
With its unique sector-specific focus, AAIF seeks to bridge critical gaps in value chain finance in agriculture, thereby increasing farmers' income and fostering rural economic development.
Executive Director and CEO of Caspian Impact Investment Adviser, Saurabh Johri, expressed enthusiasm about the collaboration, highlighting their shared mission to catalyze the economic development of Assam's rural communities.
The fund will be led by Caspian Investment Director Ravi Narasimham, who looks forward to building a partnership with ARIAS to empower and uplift the rural community, creating prosperity and sustainability.
Chairman of ARIAS Society, Ashish Kumar Bhutani, emphasized the significance of AAIF as a unique and pioneering state-led initiative aimed at addressing key challenges in value chain finance in the agriculture and allied sectors.
The fund's establishment is expected to provide much-needed long-term and patient capital for the growth of agribusiness small and medium enterprises, contributing to vibrant and resilient agri-food value chains in Assam.
Toshiaki Ono, World Bank Group Finance Sector Specialist, praised the initiative, highlighting the vital role played by agribusiness SMEs in transforming the sector.
He stressed the limited availability of external finance for their growth and expressed confidence that the Assam Agribusiness Investment Fund would support high-growth and high-impact enterprises, fostering vibrant and resilient agri-food value chains in Assam.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
India, China to resume direct flights from late October as ties improve after Galwan clashes
Electronics component scheme draws ₹1.15 lakh cr proposals; surpasses targets for jobs, output and investment
Tripura jailbreak: 5 officials suspended, 2 fugitives re-arrested; hunt for 4 others continues
Internet shut down for 48 hrs in UP’s Bareilly over ‘I love Muhammad’ poster row amid Dussehra festivities
