REWARD Project

Current Context: The cabinet of Odisha has approved to implement REWARD Project.

• The significance of REWARD is 'Rejuvenating Watersheds for Agricultural Resilience through Innovative Development’.
• The total sanctioned amount for this project is Rs 500 crore.
• Out of the total sanctioned amount, Rs 350 crore will be provided by the World Bank and the rest amount will be provided by the state government.
• The REWARD Project aims to use scientific and technical approach for watershed management for a period of 6 years, which will commence from April 2021.
• The project will provide a sustained impact on watershed management in the state.
• The REWARD Project will improve land and water conservation in the selected watershed areas.
• It will also improve the capacity of the institutions which will deliver effective scientific-based solutions to build the project.
• The REWARD Project will be implemented in 7 districts of Odisha namely, Sambalpur, Dhenkanal, Nayagarh, Deogarh, Koraput, Nabarangpur and Sundargarh.
• The project will be implemented by the Agriculture and Farmers Empowerment Department in partnership with Soil Conservation and Watershed Management Directorate.
• Static Part: 
• HQ of World Bank: Washington DC, US
• President of World Bank: David Robert Malpass
• CM of Odisha: Naveen Patnaik
• Governor of Odisha: Ganeshi Lal

Question: 

Q.1 Which finance institution to offer financial assistance to the Odisha Government to implement REWARD Project?
a. Asian Development Bank
b. New Development Bank
c. World Bank
d. Asian Infrastructure Investment Bank