India, ADB inked $ 67.6-m loan agreement to aid agriculture
A loan agreement of $ 67.6-million has been signed b/w India and Asian Development Bank to support agriculture and foster investment for agri-business infrastructure in Bihar. The loan is the first part of a $ 170-million multi tranche financing facility under the Agribusiness Infrastructure Development Investment Programme.
- The loan will be used to expand agricultural value chains and assist better linkages for small scale farmers with processors, agri-business entrepreneurs and service providers in Muzaffarpur and Patna-Nalanda regions of the state.
- This will aid farmers, traders and other value chain stakeholders to enhance their products and processes, become competitive and acclimatize to changes in end markets.
- The programme will also create additional employment thus it will improve livelihoods of farmers, the landless poor and women.
- ADB Board had approved this programme to give an impetus to private sector investment in agri-business infrastructure in selected regions of Bihar and Maharashtra.