NEDFi Ltd sanctions Rs 766.47 cr; Disburses Rs 547.11 crores for 5338 project in NE Region

The North Eastern Development Finance Corporation Ltd (NEDFi) assisted around 5,338 projects, with total sanctions & disbursements of Rs 766.47 crore and Rs 547.11 crore respectively, in diverse sectors - education & training food processing, handlooms & handicrafts, healthcare, hotels & tourism, microfinance etc. between 1st January, 2023 - 30th November, 2023.

For development of the Micro and Small Enterprises (MSE) sector, the Corporation has taken initiative to identify and nurture potential first generation local entrepreneurs and provide finance on easy terms to help them set up viable industrial projects. The credit schemes of the Corporation under micro & small enterprises sector are extended at concessional rate of interest. Besides, NEDFi undertakes initiatives/ activities towards promotion and development of MSME and Microfinance sectors in the region.

To assist the grass-root small borrowers in unserved and underserved areas of the Region - “NEDFi Micro Finance Scheme” for wholesale micro-credit to Micro Finance Institutions (MFIs) for on-lending to low-income individuals ; and “NEDFi Micro-Lending Scheme” to provide financial assistance directly to Micro Entrepreneurs, through Business Correspondents – were launched, for income generating activities in farm and non-farm sectors. During the period referred, the financial assistance of Rs 40.84 crore and Rs 1031.49 crore cumulatively was extended under the NMFS; while assistance of Rs 52.60 crore was extended to 4265 borrowers under the NMLS. These have enabled improved economic status for more than nine lakh beneficiaries, more than 90% of whom are women.