India, ADB inked $ 67.6-m loan agreement to aid agriculture

July 11, 2012

A loan agreement of $ 67.6-million has been signed b/w India and Asian Development Bank to support agriculture and foster investment for agri-business infrastructure in Bihar. The loan is the first part of a $ 170-million multi tranche financing facility under the Agribusiness Infrastructure Development Investment Programme.

Objective:

The loan will be used to expand agricultural value chains and assist better linkages for small scale farmers with processors, agri-business entrepreneurs and service providers in Muzaffarpur and Patna-Nalanda regions of the state.
This will aid farmers, traders and other value chain stakeholders to enhance their products and processes, become competitive and acclimatize to changes in end markets.
The programme will also create additional employment thus it will improve livelihoods of farmers, the landless poor and women.
ADB Board had approved this programme to give an impetus to private sector investment in agri-business infrastructure in selected regions of Bihar and Maharashtra.

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