Agriculture Infrastructure Fund gains momentum with more than Rs 8,000 crore worth applications
The Agriculture Infrastructure Fund aimed at facilitating medium and long-term debt financing for investment in agricultural projects has been able to garner Rs 8216 crore rupee through eight thousand 665 applications. Among the investors 58 per cent share has been contributed by Primary Agricultural Credit Societies apart from agri entrepreneurs and the individual farmers.
Bringing farmers and agri-businesses together the scheme is targeted to boost various agricultural projects unlocking value for farmers pan-India. Under the scheme the banks and financial institutions will provide one lakh crore rupees as loans with credit guarantee coverage for loans up to two Crore rupees and interest subvention of 3 per cent per annum.
