Centre receives Rs 23,000 crore proposals under Agriculture Infrastructure Fund

Bengaluru: The Centre has received proposals envisaging an investment of Rs 23,000 crore under the Agriculture Infrastructure Fund (AIF), Union Minister for Agriculture and Farmers Welfare Narendra Singh Tomar said on Friday.

The AIF set up in 2020 aims at providing a medium-long term debt financial facility till 2025-26 for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.

AIF with a corpus of Rs 1 lakh crore will be disbursed through loan by 2025-26, ministry officials had said earlier.

"So far, we have received proposals worth Rs 23,000 crore, of which the proposals worth Rs 13,000 crore is under consideration,” Tomar said while briefing about the outcome of the two-day National Conference of State Agriculture and Horticulture Ministers here.

He said this fund will be given as a loan to the interested people with "impressive proposals".

Union Minister for State for Agriculture and Farmers Welfare Shobha Karandlaje said the loan will be given at a minimal interest rate of three per cent.