The North Eastern Development Finance Corporation (NEDFi) has sanctioned ₹766.47 crore and disbursed ₹547.11 crore across 5,338 projects in various sectors between January and November 2023, according to an official statement.
Key Sectors Benefiting from NEDFi Support
NEDFi’s financial backing has supported projects in education, food processing, handlooms, healthcare, tourism, microfinance, and more. The corporation plays a crucial role in helping local entrepreneurs establish industrial ventures, fostering economic growth in the region.
State-Wise Support
- Assam received the highest support, with ₹500.05 crore sanctioned and ₹353.25 crore disbursed.
- Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura also saw significant funding, contributing to overall development.
Support for Micro and Small Enterprises (MSEs)
NEDFi has been actively supporting first-generation entrepreneurs through concessional credit schemes for Micro, Small, and Medium Enterprises (MSMEs).
Two key schemes include:
- NEDFi Micro Finance Scheme (NMFS) – Provided ₹1031.49 crore in wholesale micro-credit, benefiting over 9 lakh people, with 90% being women.
- NEDFi Micro-Lending Scheme (NMLS) – Disbursed ₹52.60 crore to 4,265 borrowers in unserved areas.
Boosting Startups with Venture Capital
In collaboration with the Ministry of Development of North Eastern Region (MDoNER), NEDFi launched the North East Venture Fund (NEVF) with a ₹100 crore capital commitment to support startups. As of November 30, 2023, the fund has invested ₹98.18 crore in 67 projects, strengthening the region’s entrepreneurial ecosystem.
NEDFi, backed by major financial institutions like IDBI, SBI, LIC, SIDBI, ICICI, and IFCI, continues to play a vital role in driving economic development across Northeast India.
