Raaisha Upadhyay (Intern Journalist)
PM Modi launched the facility through video-conferencing to startups, agri-entrepreneurs, agri-tech players, and farmer groups for post-harvest management and fostering farm assets.
The prime minister also released the sixth installment of Rs 17,000 crore funds to 8.5 crore farmers under the PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) scheme.
The new agri-infra fund, the duration of which will be 10 years till 2029, aims to provide medium-to-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.
Rs 1 lakh crore will be sanctioned under the financing facility in partnership with multiple lending institutions as loans to primary agri-credit societies, farmer groups, farmer producer organizations (FPOs), agri-entrepreneurs, startups, and agri-tech players.
Already, 11 of the 12 public sector banks have signed a memorandum of agreement with the Agriculture Ministry.
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