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ADB to Fund USD 130 Million Loan for Horticulture in Himachal Pradesh

Published on June 13, 2023
Current Context: The Government of India and the Asian Development Bank (ADB) have signed a loan agreement worth $130 million on June 08, 2023 to increase agricultural productivity, improve access to irrigation and promote horticulture agribusinesses to raise farmers’ income in Himachal Pradesh.
ADB to Fund USD 130 Million Loan for Horticulture in Himachal Pradesh
  • The project will help increase the income and resilience to the effects of climate change of at least 15,000 farm households across 7 districts of the state namely Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan, and Una.
  • The project will improve on-farm irrigation and water management in about 6,000 hectares of farmland by rehabilitating or building new irrigation schemes and strengthening the capacity of water user associations for micro irrigation management.
  • The project will also help create an ecosystem to enhance farmers’ access to markets of subtropical horticulture by organizing them into cluster-wide and district-wide community horticulture production and marketing associations and a state-level farmer producer company.

Question:

Q.1 Which organization has approved a $130 million loan for horticulture in Himachal Pradesh?
a. World Bank
b. International Monetary Fund
c. European Union
d. Asian Development Bank
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