Milk Mantra raises $10 mln in debt financing from US DFC
NEW DELHI, 19th June, 2020: Dairy foods company Milk Mantra said US International Development Finance Corporation (DFC) has committed $10 million (over Rs 76 crore) for structured debt financing to the company.
DFC has also approved $3,71,000 (about Rs 2.8 crore) in technical assistance to support the company's agriculture extension services and ethical milk sourcing programme, according to a statement.
"The main focus of this would be to build out Milk Mantra's digital financial services platform for its network of farmers. This platform will drive financial inclusion for farmers, especially women farmers," it added. There are nearly 100 million dairy farmers in India with a significant proportion being women.
The company was founded in August 2009 by the former director of Tetl...