Wednesday
July 31
2019

Waterfield Advisors to Launch $15M Development Impact Bond for India’s Farm Sector

By Rajesh Kurap

In a first in the country, Mumbai-based wealth advisory firm Waterfield Advisors will soon launch a $15-million Development Impact Bond (DIB) for the farm sector. It has roped in Tata Trusts’ CInI as the implementation partner for the same.

The company has launched the first tranche of $3 million, and it will raise the remaining part depending of the success of the first issue. The company is financing the bond — Lakhpati Kisan — through domestic capital from ultra high networth individuals (UHNI) and family foundations.

“The initiative is to transform the livelihood of 6,500 small and marginal households, which, in turn, will help in creating ‘lakhpatis’ in Jharkhand, Gujarat and Odisha. The DIB will help in economically liberating, crisis-hit farm sector and bring them greater financial stability,” Waterfield Advisors’ founder and CEO Soumya Rajan told BusinessLine.

Photo courtesy of pixelfusion3d.

Source: The Hindu Business Line (link opens in a new window)

Categories
Agriculture, Investing
Tags
agribusiness, agriculture, development impact bonds, emerging markets, smallholder farmers