Centre, Maharashtra and the World Bank signed 420 million USD project for small and marginal farmers

Centre, Maharashtra Government and the World Bank signed 420 million USD project for small and marginal farmers. The million dollar agreement, which was signed on April 6, 2018, will help small and marginal farmers in the Marathwada and Vidarbha regions of Maharashtra.

The project will also help in increasing the climate resilient practices in agriculture and ensuring that farming continues to remain a financially viable activity for them. The USD 420 million loan from the World Bank’s International Bank for Reconstruction and Development (IBRD) will have a 6 year grace period and a maturity of 24 years.

The project is expected to benefit over 7 million people that are spread over an area of 3.0 million ha and cover 5142 villages across 15 most climate vulnerable districts of Maharashtra. The Project for Climate Resilient Agriculture will be implemented in rural areas largely dependent upon rain fed agriculture.

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