Guidelines for Rs.2000 crore Food Processing Fund are unveiled
12th November 2014:
Dr. H.K. Bhanwala, Chairman, NABARD announced that the operational guidelines were approved by NABARD’s Board on 11 November 2014.
He further stated “Affordable credit to food processing units in Mega Food Parks (MFPs) and other Designated Food Parks (DFPs) is a national priority” and the “Ministry of Food Processing Industries (MoFPI), was the guiding spirit behind this initiative”.
The Fund will help to provide term loans both for infrastructure creation and for setting up of food processing units located in areas notified by MoFPI. The Fund will be available to State Governments, entities promoted by State, Central Governments, SPVs, Joint Ventures, Co-operatives, Federations of Cooperatives, Farmers’ Producer Organisations, Corporates, Companies, Entrepreneurs, etc. The Fund will be priced at competitive interest rate with a repayment period of seven years.
The operational guidelines are available at www.nabard.org
https://www.nabard.org/pdf/Food_Processing_Fund_guidelines_11_Nov_2014_MOFPI.pdf
* This PR was sent to e-pao.net by NABARD Manipur Regional Office who can be contacted at imphal(at)nabard(dot)org
This Press Release was posted on November 13 2014
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