Agriculture Infrastructure Fund has crossed the Rs. 8000 crore

Agriculture Infrastructure Fund has crossed the Rs. 8000 crore mark after receiving 8,665 applications worth Rs. 8,216 crores.

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The largest share of the pie is contributed by Primary Agricultural Credit Societies (PACS) (58%), agri-entrepreneurs (24%) and individual farmers (13%).

The Agriculture Infrastructure Fund is a medium – long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee.

The duration of the scheme is from FY2020 to FY2029 (10 years).

Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans with interest subvention of 3% per annum and credit guarantee coverage under CGTMSE for loans up to Rs. 2 Crores.

Eligible beneficiaries include farmers, FPOs, PACS, Marketing Cooperative Societies, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Start-ups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.