E-Paper
World Bank offers ₹3,500 cr agri loan to U.P.
A similar loan offer was also made for the funding of climate change initiatives that the UP government is gearing to take up
The World Bank has offered a soft loan of ₹3,500 crore to Uttar Pradesh to promote food processing and crop diversification with a view to enhance the income of the state’s farmers, people in the know of things said.
The loan offer was made by John Roome, regional director, South Asia, World Bank, in a meeting with chief secretary Durga Shankar Mishra and officials of agriculture and forest departments, here, on Tuesday.
“The World Bank has offered us a loan of ₹3,500 crore for a period of five years, for the promotion of food processing, crop diversification and to encourage micro-entrepreneurship involving farmer producer’s organisations in UP,” additional chief secretary, agriculture, Devesh Chaturvedi confirmed.
“Now, we will work out how much loan we require for the purpose and send a proposal accordingly to the NITI Ayog for approval,” he added.
Food processing and marketing of agri products, it was pointed out in the meeting, were a must for the agriculture sector to get the stimulus with the active participation of FPOs.
Roome is also believed to have made a similar loan offer for the funding of climate change initiatives that the UP government is gearing up to take, and other environmental issues in the state.
