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GoI signed agreement with World Bank for REWARD Project

Published on February 21, 2022
Current Context: The Government of India (GoI) has signed a loan agreement with World Bank to execute the ‘Rejuvenating Watersheds for Agricultural Resilience through Innovative Development” (REWARD) Project’ in Karnataka and Odisha.
GoI signed agreement with World Bank for REWARD Project
  • In this regard, the loan agreement of 115 million US dollars was signed between them.
  • The project will help the states to adopt and implement watershed management strategies and enhance farmers’ resilience to climate change.
  • It will also enhance productivity and income.
  • The watershed management practices will boost the livelihoods in rainfed areas. It will develop a resilient food system.
  • The funds are granted by International Bank for Reconstruction and Development (IBRD), which is the lending arm of the World Bank.
  • Out of the total funds, the Karnataka government will be granted $60 million and Odisha government will be granted $49 million, and the rest $6 million will be granted to the department of land resources of the central government.

Question: 

Q.1 GoI signed a Loan agreement of _____ with the World Bank to execute the ‘Rejuvenating Watersheds for Agricultural Resilience through Innovative Development” (REWARD) Project’ in Karnataka and Odisha?
a. $130 million
b. $95 million
c. $125 million
d. $115 million
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