Agri Infra Fund: ‘Finance’ of Rs 176 cr extended for 187 new projects in August

Kolkata: Agriculture Infrastructure Fund (AIF) showed the best monthly performance extending project finance of Rs 176 crore to 187 new projects in August 2023, taking cumulative agriculture infrastructure projects funded under the scheme to 1480 with sanctioned project loan amount of Rs 1009 crore across districts since December 2021.

More than 800 new project applications have been filed in August 2023, the highest ever in any month. This is the result of intensive awareness and facilitation through Shilpe Samadhane campaign generating demands and facilitating statutory clearances by district officials during such camps.

The ongoing Duare Sarkar camps are expected to generate further demands and facilitate project clearances in high numbers.

Major sanctioned projects include 240 Primary Processing Unit (Rice Mill Dal Mill, Oil Mill, Tea Processing, including Packaging and Sorting & Grading Units, 65 Cold Storage & Cold Chain, 688 Custom Hiring Centres & farm machinery hubs, 193 Warehouses, 45 organic input production units.

Since December 2021, more than 1480 projects with a total cost of Rs 1820 crore, sanctioned across districts where bank loan amount extending interest subvention and covered under credit guarantee fund facility is Rs 1009 crore.

At present, there are 590 valid & complete project applications involving a loan amount of Rs 239 crore which are under process for approval at different bank branches. District administration and Agriculture Department officials in districts are extending help to applicants to get these pending loan applications sanctioned by banks.

Amongst districts, East Burdwan has the highest number of Agriculture Infrastructure projects benefitted with 262 sanctioned projects with a disbursement of Rs 154 crore followed by Hooghly 231 projects at Rs 85 crore loan disbursement, Bankura 158 projects with Rs 45 crore loan disbursement, Paschim Medinipur 125 projects with disbursement of Rs 56 crore.

The coordinated efforts and convergence of activities & financial assistance of various schemes of the state government and proactively facilitating statutory clearances and thereafter access to interest subventions and bank finance for the creation of infrastructure in agriculture & allied activities in recent years has yielded good outcomes.

Awareness generation through workshops with interested Farmers, Agri-entrepreneurs, FPOs, PACS and SHGs through training-cum-orientation workshops at blocks facilitated applicants to avail financial benefits of flagship schemes like Farm Mechanisation, Agricultural Marketing Infrastructure Assistance and MIDH (Mission for Integrated Development) in convergence with project loan from banks at 3 per cent & above interest subvention and credit guarantee support.

These steps through Shilpe Samadhane, Duare Sarkar and handholding support in preparation of DPRs and monitoring of pending clearances in time bound manner and reviews with banks for processing and timely approvals of projects at various levels from blocks to districts ensured a good number of agriculture infrastructure facilities created across districts.