Regulatory Alerts2012-11-22
Added · Updated
EEF Circular No. 33: Procedures for providing NOC in favor of EEF approved capital machinery based agriculture sector projects for taking working capital from different Banks and FIs
The document establishes procedures for Equity and Entrepreneurship Fund (EEF) approved capital machinery-based agriculture projects to obtain a No Objection Certificate (NOC) for working capital loans. Applicants must submit applications via the evaluating bank to the ICB's EEF Division, detailing loan necessity, amount, and proposed bank, along with audited financial statements. The approved working capital loan amount is capped at 51% of the total project cost, and projects must not have fully disbursed EEF assistance or commenced commercial production before applying. Borrowers must mortgage fixed assets up to 51% of the total project cost or provide personal guarantees, with the EEF assuming no liability.
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