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‘India Covid Response Program for Agriculture Transition’

Published on September 26, 2021
Current Context: The U.S. International Development Finance Corporation (DFC) and the United States Agency for International Development (USAID) together announced to sponsor a credit guarantee program for India.
‘India Covid Response Program for Agriculture Transition’
  • The credit guarantee program is worth $55 million.
  • The name of the credit guarantee program is ‘India Covid Response Program for Agriculture Transition’.
  • The ‘India Covid Response Program for Agriculture Transition’ aims to solve issues faced due to COVID-19 in the agriculture sector.
  • Under the program, loans will be distributed to the farmer producer organizations, ag-tech companies, and companies dealing in clean energy solutions.
  • The program aims to develop a positive impact through granting clean technologies to smallholder farmers, particularly women, to develop market linkages and increase incomes.
  • The total duration of the program is 8 years and will benefit more than 200,000 smallholder farmers in the country.
  • The technical assistance for business management will also be provided by Rabo Foundation. It will assist in building stronger linkages to the markets.
  • The loans to the FPOs will be provided by Samunnati Financial, Maanaveeya, and Avanti Finance, which are the Indian lenders.
  • Static Part: 
    • HQ of USAID: Washington, DC, USA
    • Administrator of USAID: Samantha Power

Question: 

Q.1 The USAID and DFC announced to sponsor a credit guarantee program titled ‘India Covid Response Program for Agriculture Transition’ which is worth __?
a. $50 million
b. $45 million
c. $60 million
d. $55 million
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