‘India Covid Response Program for Agriculture Transition’

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.

• 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