National: Moneyboxx Finance Limited, a BSE-listed NBFC that provides small-ticket business loans to micro-entrepreneurs in Tier-III cities and below, expanded its agroforestry initiative to support its agri-entrepreneur and dairy farmer borrowers in planting fruit-bearing trees which can substantially elevate their income and fight climate change.
As a part of this initiative, it planted over 6,700 fruit-bearing trees in Ujjain, Madhya Pradesh in August 2023 in collaboration with Say Trees and now in September 2023, Moneyboxx in association with its execution partner Green Ananda, has planted 2,000 fruit-bearing trees in Rajasthan covering its borrowers in Bharatpur and Bhilwara regions. The company believes that this initiative has high potential to bring significant change in their borrowers’ income and will have a positive ecological impact in terms of improvement in soil and air quality, water augmentation, food security and sustainability.
Until now, Moneyboxx has planted 12,000+ fruit-bearing trees and transformed the lives of more than 85,000 households with cumulative disbursements of over INR 745 Crores and AUM of INR 425 crores as of 31st August 2023.
Commenting on this initiative, Deepak Aggarwal, Co-founder, Moneyboxx Finance Ltd, said, “Moneyboxx is committed to making beyond-lending initiatives as core to its business operations. India has the highest population of cattle in the world and about 2/3 of the rural population depends on the dairy industry. To help our dairy farmer borrowers, we hire qualified vets in our branches as impact officers who advise the borrowers on improving milk yield, feedstock selection, cattle health, breed improvement, and creating awareness about government schemes on cattle insurance etc. To further support our livestock borrowers who have farmlands, we are driving complimentary plantation of fruit-bearing trees as part of the agroforestry initiative which will lead to income elevation and sustainable development. We are committed to bringing improvements in the overall environment through multiple such initiatives in the near future.”
