During the period of January to November 2023, the Ministry of Development of the North Eastern Region announced that the North Eastern Development Finance Corporation Ltd (NEDFi) approved a total of Rs 766.47 crore for 5,338 projects spanning various sectors. "The corporation assisted around 5,338 projects, with total sanctions & disbursements of Rs 766.47 crore and Rs 547.11 crore respectively, in diverse sectors – education & training, food processing, handlooms & handicrafts, healthcare, hotels & tourism, microfinance etc. between 1 January 2023 and 30 November 2023", read a statement from the ministry.

It has been emphasized that, with the aim of promoting the growth of micro and small enterprises (MSE) in the Northeast, NEDFi has actively sought out and supported aspiring first-generation local entrepreneurs. The corporation extends financial assistance under favorable terms, including concessional interest rates, to facilitate the establishment of sustainable industrial projects by these entrepreneurs.

"To assist small borrowers in unserved and underserved areas of the region, the NEDFi micro finance scheme (NMFS) for wholesale micro-credit to microfinance institutions (MFIs) for lending to low-income individuals; and NEDFi micro-lending scheme(NMLS) to provide financial assistance directly to micro-entrepreneurs, through business correspondents was launched, aimed at income generating activities in farm and non-farm sectors", it said.

During January-November, financial assistance of Rs 40.84 crore was extended under NMFS (which has disbursed Rs 1,031.49 crore in total) and Rs 52.60 crore to 4,265 borrowers under NMLS. "These have enabled improved economic status for more than nine lakh beneficiaries, more than 90% of whom are women", the ministry's statement read. It also said NEDFi has set up the North-East Venture Fund (NEVF), a dedicated venture capital fund, to encourage and collaborate with startup ventures in the region.

Up to this point, a fund totaling Rs 100 crore has been pledged, with contributions from the ministry amounting to Rs 45 crore, NEDFi contributing Rs 30 crore, and SIDBI contributing Rs 25 crore. As of November 30, a cumulative total of 67 projects have secured investment commitments totaling Rs 98.18 crore. NEDFi, operating as a public limited company, plays a pivotal role in providing financial assistance to enterprises of various sizes micro, small, medium, and large for the establishment of industrial, infrastructure, and agri-allied projects in the northeastern region of India. Additionally, the organization extends consultancy and advisory services to both state governments and the private sector.