The entrepreneurial ecosystem in Raigad, Maharashtra, is set for a fillip with NABARD Financial Services Limited, a subsidiary of National Bank for Agriculture and Rural Development (NABARD), initiating its direct lending operations in Raigad in partnership with Swades Foundation.

The partnership, according to a release, will enable rural households in Raigad engaged in dairy activities to access the formal credit market at reasonable interest rates.

As part of the plan, over 2,500 rural entrepreneurs who are focused on animal husbandry, food and agri-processing or small and medium businesses run by self help groups are expected to be benefited.

The launch of the project this week saw a memorandum of understanding being signed between the two institutions and an initial sanction of 47 loans. Here’s hoping that the initiative goes a long way in helping marginal farmers.