[Funding News] NABARD Launches Funds With a Corpus of Rs 750 Cr

With an initial corpus of Rs 750 crore, the National Bank for Agriculture and Rural Development (NABARD) introduced the "Agri-SURE" agri fund for entrepreneurs on Friday.

The Ministry of Agriculture, NABARD, and other institutions contributed a total of Rs 250 crores to the fund, which was announced by NABARD's NABVENTURES unit.

By the conclusion of its stay, the most recent fund hopes to support about 85 agricultural companies with investments of up to Rs 25 crore per. It will offer assistance through direct equity support and investments in debt Alternative Investment Funds (AIFs) that are both sector-specific and sector-agnostic. The fund also aims to support IT-based solutions and equipment rental services that are specifically designed for farmers in order to promote entrepreneurship.

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In addition, NABARD organised the Agri-SURE Greenathon 2024, a hackathon with the goal of resolving three major agritech issues. Cost-effective smart agriculture, converting agricultural waste into lucrative ventures, and technological advancements that render regenerative agriculture economical.

Shaji K.V., Chairman of NABARD, said: “Credit alone will not solve the problem in the agriculture sector. The next level of growth will come from innovations that need to be co-partnered by Public and Private Institutions.” 

A K Sahu, Joint Secretary, Department of Agriculture & Farmers Welfare, said: “We need innovation and technology to ensure the last-mile delivery of resources. Most of our farmers hold small pieces of land, in this ecosystem we need to focus on enhancing productivity, this is where technology can play a crucial role,”

About NABARD

Founded in 1982 by Shri B. Sivaraman, NABARD is India’s apex development bank, established in 1982 under an Act of Parliament to promote sustainable and equitable agriculture and rural development. In its journey of more than four decades, the premier development financial institution has transformed lives in Indian villages through agri-finance, infrastructure development, banking technology, promotion of microfinance and rural entrepreneurship through SHGs & JLGs and more.

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