FINANCIAL TRAINING FOR EMERGING FOABs IN INDIA
An assessment of the Heifer supported farmer owned agribusinesses (FOABs) performed utilizing the Capacity Assessment Tool (CAT) revealed that board members of the FOABs have made significant improvements in awareness, leadership, sales skills, negotiation, and price fixation, however, their understanding of basic financial terms and financial statements remained a challenge. This limitation can pose a threat to the overall organizational development of the FOABs and affects the confidence and spirit of self-reliance of the FOAB members.
To tackle these challenges, a two-day training was conducted with an action oriented and participatory approach. The training took place on September 3 and 4 in Purnea, Bihar. 45 members belonging to six FOABs from Bihar and three from Odisha participated in the training. Among the participants were FOAB board members, FOAB accountants, cooperative coordinators, NGO partners, and Heifer India staff. The training was conducted by Mr. Ajit Kanitkar, Senior Advisor of Vikas Anvesh Foundation (VAF), an initiative of Tata Trust, one of India’s oldest philanthropic organisations, which also provides pro-bono support to the FOABs.