World Bank inks $172 million loan pact to make farming viable in Andhra Pradesh

The Central and Andhra Pradesh governments and the World Bank have signed the loan agreement for a $172.20 million project to enhance agricultural productivity, profitability, and climate resilience of poor and marginalised farmers in Andhra Pradesh. The projects seeks to ensure that farming continues to remain a financially viable activity. The Andhra Pradesh Integrated Irrigation and Agriculture Transformation Project (APIIATP) will be implemented in rural areas largely dependent upon rain-fed agriculture. It will strengthen the resilience of poor and marginalised farmers against adverse climate events by improving access to irrigation, drought seed varieties and post-harvest technology that are aimed at improving soil health, water-use efficiency and crop productivity. The project will benefit over 200,000 families of poor and marginalised farmers, agro-entrepreneurs, women and other vulnerable groups. The $172.20 million loan from the International Bank for Reconstruction and Development (IBRD), has a 6-year grace period, and a maturity of 24 years.

Month: Current Affairs - December, 2020