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Guwahati: Assam Rural Infrastructure and Agricultural Services (ARIAS) on Thursday said it is implementing a World Bank-funded project to support innovative approaches, especially by the private sector.

The Assam AgriFinXamahar Challenge Agriculture Fund is aimed at delivering financial services for farmers in value chains in the northeastern state.

The project is funded by the World Bank and is being implemented under the Assam Agribusiness and Rural Transformation Project (APART).

ARIAS Society State Project Director Roshni Aparanji Korati said a rigorous process of selection of eight financial institutions was conducted under the programme that was launched in December 2021.

These institutions will work in one or more of the 23 priority districts of APART, directly benefitting 1,25,000 producers over the fund life, she said.

“The Xamahar Challenge Fund expects private players to contribute towards improving the value chain financing in the state,” Korati stated.

She also said it is expected that these institutions will scale up innovations commercially as a part of their business models, leading to improved access to financial services in agriculture.

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