Current Affairs

GOI signed $210 Million Loan with World Bank

Current context: The Government of India, the Government of Maharashtra and the World Bank signed a loan agreement of $210 million on 24th January 2020.
GOI signed $210 Million Loan with World Bank 
  • The $210 million loan agreement has been made to support smallholder farmers in the Indian state of Maharashtra.
  • The loan agreement was signed by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, and Junaid Kamal Ahmad, Country Director (India), World Bank.
  • The $210 million Maharashtra Agribusiness and Rural Transformation Project will help in:
    1. Competitive agriculture value chains.
    2. Facilitate agri-business investments.
    3. Increase market access and productivity in focus commodities.
    4. Build resilience of crops to recurrent floods or droughts etc.
  • The project will be implemented in all 36 districts of Maharashtra.
  • At least 43 percent of farmers and farm-workers participating in project activities are expected to be women.
  • The $210 million loan from the International Bank for Reconstruction and Development (IBRD) has a 6-year grace period and a maturity period of 13.5 years.

Question: 

Q.1 The World Bank has recently signed a $210 million loan agreement with the government of India to support smallholder farmers of which Indian state?
a. Madhya Pradesh
b. Jharkhand
c. Bihar
d. Maharashtra
GOI signed $210 Million Loan with World Bank GOI signed $210 Million Loan with World Bank Reviewed by Neha Verma on January 25, 2020 Rating: 5

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