Guwahati, July 3, 2023: In a collaborative effort involving the World Bank and multiple stakeholders, a fund worth Rs 250 crore has been established in Assam to promote small and medium units in the agriculture sector.

The Assam Agribusiness Investment Fund (AAIF) has been launched by Caspian Impact Investment Adviser, a venture capital fund, in partnership with the Assam Rural Infrastructure and Agricultural Services (ARIAS) Society. The objective of AAIF is to accelerate growth, enhance agricultural productivity, and generate employment opportunities in the state, as reported by The Assam Tribune.

ARIAS, designated as the anchor investor for AAIF, will work closely with Caspian Equity, the fund manager. The fund’s primary focus will be on investing in small and medium enterprises operating in the agribusiness and allied sectors.

Saurabh Johri, the Executive Director and CEO of Caspian Impact Investment Adviser, expressed enthusiasm about the collaboration and emphasized their shared mission to catalyze economic development in Assam’s rural communities.

Leading the fund will be Ravi Narasimham, the Investment Director at Caspian, who looks forward to building a strong partnership with ARIAS to empower and uplift the rural community, fostering prosperity and sustainability.

Ashish Kumar Bhutani, Chairman of ARIAS Society, highlighted the significance of AAIF as a unique and pioneering state-led initiative aimed at addressing crucial challenges in value chain finance within the agriculture and allied sectors.

Toshiaki Ono, a Finance Sector Specialist from the World Bank Group, commended the initiative and emphasized the vital role played by agribusiness small and medium enterprises (SMEs) in transforming the sector. He also acknowledged the limited availability of external finance for their growth. Ono expressed confidence that the Assam Agribusiness Investment Fund would support high-growth and high-impact enterprises, fostering vibrant and resilient agri-food value chains in Assam.