MUMBAI : Agriculture-focused non-banking finance company (NBFC) Netafim Agricultural Financing Agency (NAFA) on Monday said it has raised $50 million through a mix of equity capital and external commercial borrowing from Israel based - Phoenix Group and Cogito Capital. According to Prabhat Chaturvedi, CEO, Netafim Agricultural Financing Agency Pvt. Ltd, there is a need for diversified credit schemes, along with adequate hand holding, to provide financial guidance to farmers on investing in agriculture and allied activities. The advent of intensive and climate-resilient agricultural technologies has further amplified the need for good financing schemes. NAFA has established its presence in eight states and disbursed total loans above ₹1000 crore to more than 10,000 customers.

Source: Mint April 26, 2021 14:03 UTC