Citi and SBI Join Forces to Empower Smallholder Farmers with $295 Million Social Loan

Citi and State Bank of India (SBI) have announced a groundbreaking social loan facility worth $295 million, aimed at supporting smallholder farmers across India. This initiative is designed to enhance agricultural productivity and financial well-being by improving access to credit for farmers who often struggle with limited income and restricted financial resources.

The loan facility will be utilized by SBI to finance its Kisan Credit Card loan portfolio, ensuring that small and marginal farmers receive the necessary financial support to sustain and grow their agricultural operations. Citi’s Trade & Working Capital Solutions will play a key role in structuring this financing, reinforcing its commitment to expanding financial inclusion in emerging markets.

Officials from both institutions emphasized the importance of this initiative in fostering economic inclusion and strengthening rural communities. By providing smallholder farmers with better access to credit, the program aims to boost agricultural production, improve livelihoods, and contribute to long-term economic growth.

Key Highlights:
- Citi and SBI announce a $295 million social loan facility to support smallholder farmers.
- SBI will utilize the funds to finance its Kisan Credit Card loan portfolio.
- Initiative aims to enhance agricultural productivity and financial inclusion.
- Designed to strengthen rural economies and improve farmer livelihoods.

Source Names: Fortune India, MSN, The Hindu BusinessLine.