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
IBPS RRB Scale II GBO Course 2025

About Me

Ramandeep Singh

Ramandeep Singh

Educator & Banking Expert

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

14+
Years Experience
5000+
Selections
Ex-BoB
Banker
Close Menu
Close Menu