NEDFi Sanctions Over ₹750 Crores for 5,300 Northeast Projects

January 2, 2024

North Eastern Development Finance Corporation (NEDFi) has provided funding of ₹766 crore to around 5,338 enterprises across sectors in northeast India between January-November 2023.

Overall Role

NEDFi facilitates industrial and services projects in the Northeast by offering financial assistance and advisory services.

It thus catalyzes ground-level socioeconomic development in the region.

Key Initiatives

₹547 crore disbursed at concessional interest rates to micro and small businesses
₹41 crore credit extended via microfinance institutions
₹53 crore direct micro lending to benefit over 9 lakh individuals
₹98 crore venture capital commitments to 67 startups

The interventions prioritize affordable credit access, entrepreneurship and livelihoods.

Women Empowerment

Notably, over 90% microfinance beneficiaries are women. Over 5,000 borrowers have received funds.

This enables income generation and financial inclusion for marginalized sections.

Collaborations

NEDFi joined the Ministry of Development of North Eastern Region (MDoNER) in setting up a ₹100 crore North East Venture Fund to incubate regional startups.

It also partners with banks, microcredit organisations and NGOs for last-mile delivery to remote areas.

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