NABARD, MAHAPREIT Join Hands to Accelerate Green Infrastructure Development in Rural India

NABARD and Mahatma Phule Renewable Energy and Infrastructure Technology, (MAHAPREIT), a Government of Maharashtra enterprise, signed an MoU to finance and promote green, climate-resilient and sustainable infrastructure across rural India, with special focus on strengthening villages, Panchayati Raj Institutions (PRIs), and community-level infrastructure in Maharashtra.

The MoU brings together NABARD's expertise in rural development finance, climate finance and green infrastructure financing with MAHAPREIT's experience in climate-focused infrastructure development. The collaboration seeks to facilitate the identification, development, structuring and financing of sustainable projects that support rural prosperity, climate resilience and improved quality of life in villages across India.

Initially, both organisations have identified priority areas like green energy, decarbonisation initiatives for Government buildings, gram panchayat infrastructure, rural public institutions, water pumping schemes. Deployment of clean energy solutions for Directorate of Technical Education (DTE) institutions, government hospitals, district hospitals and other public service institutions serving rural communities are also in the plan of collaborative action. Promotion of biogas and bioenergy generation, agricultural residues and other biomass resources, creating additional income opportunities for farmers while supporting the circular economy along with solar-powered micro cold storage infrastructure for village level bodies will be taken up for financing in a collaborative mode.

Speaking about this tie up, Dr. Shaji Krishnan V, Chairman, NABARD, stated, “NABARD is committed to working with all like-minded stakeholders in furthering a cleaner and greener rural India. We see this MoU with MAHAPREIT as a significant step in this direction”.