IFC to facilitate rural business hubs in NE

New Delhi, Dec 7 (UNI) The International Finance Corporation's South Asia Enterprise Development Facility (IFC-SEDF) today said it has partnered with the Confederation of Indian Industry (CII) and the Ministry of Panchayati Raj to facilitate and support rural business hubs in Northeast India.

The public-private partnership will establish five rural business hubs, assist farmers, artisans, and small entrepreneurs to increase yields, improve quality, reduce transaction costs and enhance market access.

The partnership will also support capacity building in the region and support market linkages for business expansion and product marketing.

''This initiative aims to foster economic growth in rural India by facilitating direct linkages between industry and rural communities,'' Minister of Panchayati Raj Mani Shankar Aiyar said while presiding over the signing of the memorandum of agreement.

IFC Director South Asia Iyad Malas said the partnership is in line with IFC's focus in India on rural sector development through private sector partnerships.

''Our overall approach is to work on projects in agribusiness or with rural linkages, help build rural infrastructure and provide access to rural finance and related rural services,'' Mr Malas added.

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