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GOI and ADB signed Loan Agreement for MAGNET Project

Published on October 30, 2021
Current Context: The GOI and Asian Development Bank (ADB) has signed a loan agreement for the Maharashtra Agribusiness Network (MAGNET) Project.
GOI and ADB signed Loan Agreement for MAGNET Project
  • The loan agreement of $100 million was signed.
  • The loan will help to promote agribusiness in the state.
  • It will eventually help to enhance the income of farmers and will reduce food losses in Maharashtra.
  • The funds will be used to grant holistic support to on-farm improvement in productivity, upgrade post-harvest facilities, set up marketing structures for horticulture producers of the state.
  • The small and marginal farmers will be benefited from this project.
  • Static Part: 
    • Dams in Maharashtra: Koyna Dam(Koyna River), Jayakwadi Dam (Godavari River), Totladoh dam (Pench river), Isapur Dam (Penganga river)
    • Wild Life Sanctuaries in Maharashtra: Anerdam WLS, Koyna WLS, Phansad WLS, Sagareshwar WLS, Radhanagari WLS, Nagzira WLS, Jayakwadi Bird Sanctuary

Question: 

Q.1 The GOI and ADB signed a $100 million loan agreement to support agribusiness in which state?
a. Karnataka
b. Meghalaya
c. Maharashtra
d. Gujarat

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