NEDFi blueprint to boost infrastructure, development

GUWAHATI, April 13?The North Eastern Development Finance Corporation Ltd (NEDFi) has chalked out a detailed plan to boost the economy of Meghalaya, and to reach out to the people in the State, the Corporation has set up a branch office at Shillong which started functioning from October 15, 2001, stated a release. Mentionably, NEDFi was set up in 1995 for the development of industries and infrastructure in the North East region. NEDFi has sanctioned Rs 5458 lakhs as assistance to 21 projects in Meghalaya covering industrial/agricultural activities such as food processing, poultry, health care, steel, cold storage and cement. An amount of Rs 1199.54 lakhs has since been disbursed. NEDFi has devised a two-pronged strategy for Meghalaya. One, identifying the industries in which Meghalaya has distinct competitive advantages in which NEDFi has already assisted ?few high value projects which have already started satisfactorily. Secondly, identifying local entrepreneurs for financing local resource based industries for which NEDFi realizes the potential of the manpower of Meghalaya which is aptly demonstrated by the fact that around 50, per cent of the Customer Service Representatives of the DSS Call Centre at NEDFi?s IT park are from Meghalaya.