Current Affairs

World Bank signed Loan Agreement for Odisha Farmers

Current context: The Odisha state government, Government of India and the World Bank have signed a $165 million loan agreement on 24th October 2019.
World Bank signed Loan Agreement for Odisha Farmers 
  • The loan agreement has been signed to strengthen the production system and support smallholder farmers of Odisha.
  • The project is named an Odisha Integrated Irrigation Project for Climate Resilient Agriculture.
  • The project will be implemented in rural areas that are vulnerable to droughts and are highly dependent on rainfed agriculture.
  • It will aid resilience against adverse climate by:
    1. Improving access to resilient seed varieties and production technologies.
    2. Diversifying towards more climate-resilient crops.
    3. Improving access to better water management and irrigation services.
  • In Odisha, farming is largely dominated by farmers with landholdings of less than two hectares and the frequency of droughts in the state has increased from 1 in 5 years to 1 in 2 years.
  • The $165 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 24 years and a 6-year grace period.

Question: 

Q.1 Recently the World Bank has signed a $165 million loan agreement for a Climate Resilient Agricultural Project with which state?
a. Madhya Pradesh
b. Odisha
c. Chhattisgarh
d. Rajasthan
World Bank signed Loan Agreement for Odisha Farmers World Bank signed Loan Agreement for Odisha Farmers Reviewed by Neha Verma on October 25, 2019 Rating: 5

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