DFC and USAID Announce $ 55 Million Guarantee Program in India

The initiative will introduce and support clean technologies for smallholder farmers, especially women, that improve market linkages and increase incomes while having a positive impact on the environment. Financial support will be complemented by technical assistance led by the Rabo Foundation to focus on areas of business management and help build stronger links with markets. The loans to agricultural producer organizations will be granted by three Indian lenders: Samunnati Financial, Maanaveeya and Avanti Finance, according to a statement.

“At USAID, we believe that providing farmers with access to cleaner, more affordable technology can improve community livelihoods and climate resilience. In addition, clean technologies offer a sustainable alternative to meet agricultural demand, combat food insecurity and improve nutritional outcomes. This support will meet the health and economic needs of vulnerable farming communities severely affected by the covid-19 pandemic, ”said Warren Harrity, Director (Program Support) at USAID India.

Pim Mol, Managing Director of the Rabo Foundation, said that only by joining forces and creating valuable partnerships can smallholder farmers get the space and opportunities they need to improve their means. livelihoods and adapt to the challenges of climate change.

“We strongly believe that aggregation can solve multiple problems facing smallholder farmers and this initiative can greatly contribute to the scale-up of collectives by encouraging the participation of major providers of capital,” said Manish Thakkar. , COO at Avanti Finance.