New Delhi, December 13 (SocialNews.XYZ) The World Bank Board of Directors aims to increase farmers’ incomes in Uttar Pradesh by improving crop productivity, introducing digital technologies and climate-resilient practices, and strengthening market linkages. approved the $325.1 million project. . The project also aims to leverage $15 million in private funding to support these efforts, according to an official statement released Friday.
The $325.1 million Uttar Pradesh Agricultural Growth and Rural Enterprise Ecosystem Enhancement (UP-AGREES) project will strengthen agricultural value chains, improve access to finance and create value-added opportunities. Additionally, innovative financial products will be launched to make access to credit more timely, affordable and transparent, such as the Kisan Credit Card (eKCC). The project will benefit one million farmers in eastern UP and Bundelkhand regions of the state, the statement said.
“This project will promote sustainable practices such as low-methane rice varieties, rice residue collection and conversion into biogas, and optimized fertilizer use to reduce agriculture’s impact on climate change and increase productivity. ” said World Bank Country Director Auguste Tano Kouame. India. “The project will also establish a dedicated center to build the capacity of government officials and farmers in climate adaptation strategies.”
The $325.1 million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 33.5 years, including a six-year grace period.
This project will help strengthen the digital services and agricultural finance ecosystem. It will also encourage the private sector to provide solutions through market-based approaches. Geographical clusters of agricultural and seafood products, i.e. networks of producers, agribusinesses and public institutions working in the same subsector, will also receive increased support under the project. It will also provide support to the proposed integrated agricultural export hub near Jewar Airport in Greater Noida.
“This project will work specifically with women farmers and entrepreneurs to introduce cutting-edge, climate-resilient digital technologies, strengthen farm infrastructure, and strengthen local and global market linkages. ” said Vinayak Ghatate, Andrew Goodland and Harsh Janjaria. Project task team leader. “This will help improve productivity, create jobs and increase incomes.”
The project will leverage resources from a variety of sources, including the French and Israeli governments and the Gates Foundation, to support its efforts, the statement added.
Source: IANS
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