World Bank and Government of India inks loan agreement for NRETP
The World Bank will provide a $250-million loan for the National Rural Economic Transformation Project (NRETP). National Rural Economic Transformation Project is a new sub-component under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) of the Ministry of Rural Development.
National Rural Economic Transformation Project
- NRETP supports enterprise development programmes for rural poor women and youth by creating a platform to access finance including start-up financing options to build their individual and/or collectively owned and managed enterprises.
- The project also involves developing financial products using digital financial services to help small producer collectives scale-up and engage with the market.
- It also supports youth skills development, in coordination with the Deen Dayal Upadhyaya Grameen Kaushalya Yojana.
- The key focus of the project is to promote women-owned and women-led farm and non-farm enterprises across value chains, enabling them to build businesses that help them access finance, markets and networks; and generate employment.
The $250-million loan from the World Bank has a 5-year grace period and a final maturity of 20 years.
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Month: Current Affairs - March, 2019