North Eastern Development Finance Corporation (NEDFi)  For Over ₹750 Crores for  around 5,338 enterprises

North Eastern Development Finance Corporation (NEDFi): The North Eastern Development Finance Corporation (NEDFi) has allocated ₹766 crore in funding to support approximately 5,338 enterprises operating across various sectors. NEDFi disbursed ₹547 crores at concessional interest rates to micro and small businesses, extended ₹41 crores in credit via microfinance institutions, provided ₹53 crores in direct micro-lending benefiting over 9 lakh individuals, and committed ₹98 crores in venture capital to 67 startups. This funding initiative aims to bolster economic development in the northeastern region of India by providing financial assistance to businesses of different sizes and industries. Through this effort, NEDFi seeks to promote entrepreneurship, create employment opportunities, and contribute to the overall socio-economic growth of the region.

North Eastern Development Finance Corporation (NEDFi)’s Funding

The funding provided by the North Eastern Development Finance Corporation (NEDFi) to around 5,338 enterprises across various sectors in northeast India between January and November 2023 amounts to ₹766 crore.

1. Overall Role:
   • NEDFi serves as a catalyst for industrial and services projects in the Northeast by offering financial assistance and advisory services.
   • Its primary objective is to stimulate socio-economic development at the grassroots level in the region, fostering growth and prosperity.
2. Key Initiatives:
   • ₹547 crore disbursed at concessional interest rates to micro and small businesses: This funding aims to support the growth and expansion of micro and small enterprises, which are vital for employment generation and economic development.
   • ₹41 crore credit extended via microfinance institutions: NEDFi’s collaboration with microfinance institutions enhances access to credit for entrepreneurs and small businesses, particularly in rural and underserved areas.
   • ₹53 crore direct micro-lending to benefit over 9 lakh individuals: Direct micro-lending initiatives provide financial assistance to individuals for various income-generating activities, contributing to poverty alleviation and livelihood enhancement.
   • ₹98 crore venture capital commitments to 67 startups: By supporting startups through venture capital investments, NEDFi promotes innovation, entrepreneurship, and the growth of emerging businesses in the region.

Projects which are included in the North Eastern Development Finance Corporation (NEDFi)

1. Non-Lapsable Central Pool of Resources (NLCPR):

• Objective: The NLCPR aims to expedite infrastructure development in the North Eastern Region (NER) and Sikkim by augmenting budgetary financing for specific infrastructure projects and schemes.
• Implementation: Funds from the NLCPR are allocated for projects focusing on sectors like transportation, communication, water supply, power, education, health, and irrigation.
• Impact: The initiative addresses the infrastructural deficits in the region, improving connectivity, enhancing access to basic services, and fostering socio-economic development.

1. North Eastern Council (NEC):

• Objective: Established by the North Eastern Council Act, of 1971, NEC acts as an advisory body for balanced socio-economic development in the northeastern states and Sikkim.
• Functions: NEC formulates regional development projects and schemes, promotes inter-state cooperation, and serves as the Regional Planning Body for the North Eastern Region.
• Impact: NEC’s initiatives contribute to regional integration, strategic planning, and the implementation of development projects across multiple sectors, as outlined in the North Eastern Region Vision 2020.

1. North Eastern Regional Agricultural Marketing Corporation Ltd (NERAMAC):

• Objective: NERAMAC facilitates the marketing of agricultural produce from the North Eastern Region to markets across India and abroad, thereby enhancing farmers’ incomes and promoting agricultural entrepreneurship.
• Activities: NERAMAC engages in activities such as aggregation, packaging, branding, and marketing of agricultural products, as well as providing support for infrastructure development and capacity building in the agricultural sector.
• Impact: NERAMAC’s interventions aim to reduce post-harvest losses, improve market access for farmers, and stimulate agribusiness development in the region.

1. North Eastern Handicrafts and Handlooms Development Corporation (NEHHDC):

• Objective: NEHHDC promotes the development and marketing of traditional handicrafts and handloom products from the North Eastern Region, thereby preserving cultural heritage and generating employment opportunities.
• Activities: NEHHDC provides support for artisans and weavers through training, design development, product diversification, and market linkage initiatives, both domestically and internationally.
• Impact: NEHHDC’s efforts contribute to the socio-economic empowerment of artisans, the preservation of traditional crafts, and the promotion of North Eastern handicrafts in national and global markets.

1. North East Development Finance Corporation Ltd. (NEDFi):

• Objective: NEDFi provides financial assistance and support services to promote entrepreneurship, industrial development, and infrastructure projects in the North Eastern Region.
• Activities: NEDFi offers a range of financial products including term loans, working capital assistance, venture capital, and equity participation, along with advisory services and capacity-building programs for entrepreneurs and businesses.
• Impact: NEDFi’s interventions stimulate economic growth, create employment opportunities, and catalyze private sector investment in diverse sectors such as manufacturing, tourism, agriculture, and services.

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