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Mahesh

13/06/23 06:21 AM IST

ADB, India sign $130 million loan to promote horticulture in Himachal Pradesh

In News
  • The Government of India and the Asian Development Bank (ADB) have signed a loan agreement worth $130 million in order to increase agricultural productivity, improve access to irrigation and promote horticulture agribusinesses to raise farmers’ income in Himachal Pradesh.
About the project
  • The project interventions will help increase the income and resilience to the effects of climate change of at least 15,000 farm households across seven districts of the state namely Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan, and Una.
  • The project will improve on-farm irrigation and water management in about 6,000 hectares of farmland by rehabilitating or building new irrigation schemes and strengthening the capacity of WUAs for micro-irrigation management through joint efforts from the state’s Jal Shakti Vibhag (Water Resources Department) and Department of Horticulture (DOH).
  • The project will also help create an ecosystem to enhance farmers’ access to markets of subtropical horticulture.
  • The farmers will be organised into cluster-wide community horticulture production and marketing associations (CHPMAs) and district-wide CHPMA cooperative societies.
  • The project will also modernise public and private subtropical horticulture nursery facilities for improved plant health, and boost beneficiary farmers’ access to information and communication technologies, and other digital agri-technology systems for real-time farm advisories and better CHPMA management.
About ADB
  • ADB, established in 1966 is owned by 68 members-49 from the region.
  •  It is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty.
  • Further, it assists members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
  • It aims to promote social and economic development in Asia and the Pacific.
  • ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
  • It is headquartered in Manila, Philippines.
Source- PIB

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