Akshayakalpa signs Mou with BII, Samunnati to Fund 1,500 Dairy Farmers in Karnataka, TN & Telangana

Current Context: On February 22, 2024, Akshayakalpa Organic signed a Memorandum of Understanding (MoU) with British International Investment plc (BII) and Samunnati Financial Intermediation & Services Pvt Ltd in Hyderabad/Bengaluru.

• The partnership aims to provide financing to up to 1,500 smallholder dairy farmers in Karnataka, Tamil Nadu, and Telangana, enabling them to scale up their organic dairy business.
• This commitment is part of BII’s £200-million Climate Innovation Facility, which aims to finance pioneering climate solutions in developing countries.
• The MoU underscores Akshayakalpa Organic’s commitment to foster sustainable agricultural practices and empower local farming communities.
• Through this engagement, farmers are supported to transition to organic and sustainable farming practices, diversify their income streams, increase milk production and crop productivity, and contribute to climate change mitigation and sustainability of the dairy industry in India.

Question:

Q.1 What is the commitment of BII’s £200-million Climate Innovation Facility?
a. To finance pioneering climate solutions in developing countries
b. To foster sustainable agricultural practices
c. To empower local farming communities
d. All of the above