Moneyboxx Finance Ltd, a BSE-listed NBFC providing small-ticket business loans to micro entrepreneurs is expanding its agroforestry initiative to support agri-entrepreneur and dairy farmer borrowers in planting fruit-bearing trees. This could help elevate their income and fight climate change.

As a part of the initiative, the NBFC, in association with its execution partner Green Ananda, is planting 1,800 fruit-bearing trees in Madhya Pradesh covering its borrowers in Agar, Mandsaur, Ujjain and Dewas regions. It had earlier planted close to 1,600 fruit-bearing trees in Haryana in September this year.

The company believes that this initiative has potential to bring significant change in their borrowers’ income and will have a positive ecological impact on improvement in soil and air quality, water augmentation, food security and sustainability, said a statement.

 “India has the highest cattle population globally and about two-third of the rural population depends on the dairy industry. To help our dairy farmer borrowers, we hire qualified vets as impact officers to advise them 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 with farmlands, we are driving plantation of fruit-bearing trees as part of the agro forestry initiative which will lead to income elevation and sustainable development. We are committed to bring improvements in the overall environment through multiple such initiatives in the near future,” said Deepak Aggarwal, Co-founder Moneyboxx Finance.

Moneyboxx has a network of 50 branches in six states, including Rajasthan, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh, and Chhattisgarh. The company plans to strengthen its presence and expand its customer reach by increasing its network to 60 and ₹350 crore AUM by FY23.

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