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Rural Development has a loan portfolio over $224.5 billion, and administers nearly $16 billion in program loans, loan guarantees, and grants through their programs. Rural Development promotes economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools.
Rural development actions are intended to further the social and economic development of rural communities. [16] [17]Rural development programs were historically top-down approaches from local or regional authorities, regional development agencies, NGOs, national governments or international development organizations. [18]
The Rural Business-Cooperative Service (abbreviated as "RBS") is one of three agencies within USDA Rural Development (along with the Rural Housing Service and Rural Utilities Service) responsible for administering various economic development programs to rural communities in the United States and its territories. Because these three agencies ...
The Local Initiatives Support Corporation (LISC) is a US non-profit community development financial institution (CDFI) that supports community development initiatives across the country. It has offices in nearly 40 cities and works across 2,100 rural counties in 44 states. [2] LISC was created in 1979 by executives from the Ford Foundation. [3]
The most recent of these Farm Bills, the Agricultural Improvement Act of 2018 (2018 Farm Bill), authorizes policies in the areas of commodity programs and crop insurance, conservation on agricultural lands, agricultural trade (including foreign food assistance), nutrition (primarily domestic food assistance), farm credit, rural economic ...
Rural development is also characterized by its emphasis on locally produced economic development strategies. [12] In contrast to urban regions, which have many similarities, rural areas are highly distinctive from one another. For this reason there are a large variety of rural development approaches used globally. [13]
In the United States, rural community development is an essential tool in keeping rural areas economically viable in a competitive global arena. Under the United States Department of Agriculture , this is addressed through the Rural Development mission area, comprising the Rural Housing Service , Rural Utilities Service , and Rural Business ...
Rural Economic Development in North Carolina is analogous to other areas as the focus of said projects are to facilitate a higher standard of economic activity to a specified area. In these designated areas citizens, interest groups, business owners, and policymakers work together in order to formulate long-term economic goals and strategies to ...
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related to: rural economic development programs