World Bank approves funding for India’s agricultural project

March 28th, 2012 - 7:06 am ICT by IANS  

Washington, March 28 (IANS) The World Bank has approved a $109 million funding for the Rajasthan Agricultural Competitiveness Project in India to enhance agricultural productivity through sustainable and efficient use of water resources.

The project is expected to increase agricultural productivity and farmer incomes through efficient water management, crop management, improved agricultural technology, farmer organizations and market innovations in some 20 selected areas in Rajasthan.

The initiative will benefit some 155,000 smallholder farmers, the Washington-based World Bank said in a statement Tuesday.

“The agricultural sector needs an end-to-end approach ranging from water management to better agricultural practices and marketing,” said Roberto Zagha, World Bank country director for India.

The project will be financed by a credit from the International Development Association (IDA), the World Bank’s concessionary lending arm.

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