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

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.

• 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