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Akshayakalpa in deal with UK’s BII, Samunnati to finance farmers

kshayakalpa Organic has signed a Memorandum of Understanding (MoU) with British International Investment plc (BII), the UK’s development finance institution and impact investor, and Samunnati Financial Intermediation & Services Pvt Ltd to provide financing to up to 1,500 smallholder dairy farmers in Karnataka, Tamil Nadu, and Telangana.

The partnership will see BII extend guarantees for new and existing Akshayakalpa Organic smallholder farmers, who are typically outside of the formal lending ecosystem.

This will enable them to access formal financing in order to scale up their organic dairy business. This commitment is made through BII’s £200-million Climate Innovation Facility, announced by the UK Government at COP26 to provide finance for the most pioneering climate solutions in developing countries.

Organic practices

Through Akshayakalpa Organic’s engagement, farmers are supported to transition to organic and sustainable and regenerative farming practices to diversify their income streams, which increases milk production per cow by 2.3 times and increases crop productivity per acre while obtaining organic certification.

Shashi Kumar, CEO, & Co-founder, Akshayakalpa Organic, said: “This association will help us accelerate our plans of providing consumers with the finest organic dairy products while promoting ethical and sustainable farming practices across Karnataka, Tamil Nadu and Telangana.”

Source : The Hindu Businessline

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