US International Development Finance Corporation has now committed $20 million debt funding to a non-banking financial company, Samunnati Financial Intermediation, and Services Pvt Ltd, to help it expand financing and technical assistance to low-income farmers and enterprises throughout the agricultural value chain in India.
Anilkumar SG, Founder, and CEO, Samunnati said,
“Samunnati is working with many FPOs on the supply side and agri enterprises on the demand side across 19 states in India. We are delighted to partner with DFC as this will help us further offer customised financial solutions, using social and trade capital, to FPOs and SMEs, enabling the agri value chain to operate at a higher equilibrium.”
Ajay Rao, Managing Director – South Asia Region, DFC who led this transaction added,
“We are very impressed with Samunnati’s pioneering work in agriculture value chain finance in India which contributes to making agriculture value chains more efficient, enables more product to flow through the value chain, lowers food waste, and provides for higher and stable incomes for smallholder farmers.”