|India and World Bank sign USD 210 million loan agreement for Maharashtra's agribusiness and rural transformation project|
India and World Bank sign USD 210 million loan agreement for Maharashtra's agribusiness and rural transformation project
The Government of India, the Government of Maharashtra and the World Bank signed a loan agreement of USD 210 million to support small holder farmers participate in competitive agriculture value chains, facilitate agri-business investments, increase market access and productivity in focus commodities, and build resilience of crops to recurrent floods or droughts in the Indian state of Maharashtra.
The MoU Signed by:
The loan agreement was signed by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and by Junaid Kamal Ahmad, Country Director (India), World Bank on behalf of the World Bank.
The USD 210 million Maharashtra Agribusiness and Rural Transformation Project, will help build capacity of the nodal departments and institutions; increase private sector investments in agricultural value chains; remove constraints for producers and entrepreneurs in accessing emerging domestic and export markets; build the capacity of the state to respond to commodity-price fluctuations by providing access to timely information on markets and production trends; and enhance adoption of climate resilient production techniques in the state.
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The project will be implemented in all 36 districts of Maharashtra. Over one million farming households will directly benefit from the project. At least 43 percent of farmers and farm-workers participating in project activities are expected to be women. Specific focus will be given to women-led enterprises and the participation of women in the decision-making processes of farmer producer organizations.