Hindusthan Samachar
Banner 2 शनिवार, मार्च 23, 2019 | समय 13:17 Hrs(IST) Sonali Sonali Sonali Singh Bisht

India, World Bank Sign $250 million agreement for boosting rural income

By HindusthanSamachar | Publish Date: Mar 5 2019 9:58PM
India, World Bank Sign $250 million agreement for boosting rural income
New Delhi, Mar.5 (HS): The World Bank and the Government of India has signed $250 million agreement for the National Rural Economic Transformation Project (NRETP) which will help women in rural households shift to a new generation of economic initiatives by developing viable enterprise for farm and non-farm products, today. A key focus of the project will be to promote women-owned and women-led farm and non-farm enterprises across value chains; enable them to build businesses that help them access finance, markets and networks; and generate employment. It is important to note that NRETP is an additional financing to the $500 million National Rural Livelihoods Project (NRLP) approved by the World Bank in July 2011. The NRLP which is currently being implemented across 13 states, 162 districts and 575 blocks, has so far mobilized more than 8.8 million women from poor rural households into 750,000 self-help groups (SHGs). Speaking on the occasion, Mr. Sameer Kumar Khare, additional secretary, department of economic affairs, ministry of finance said that the National Rural Livelihoods Mission (NRLM) aims to alleviate rural poverty and create sustainable livelihood opportunities in rural communities by promoting sustainable community-based institutions which will facilitate economic and financial services for the rural poor. The loan agreement was signed by Sameer Kumar Khare, on behalf of the Government of India; and Mr. Hisham Abdo, acting country director, World Bank (India), on behalf of the World Bank. On the occasion, Hisham Abdo said that the National Rural Livelihoods Project has mobilized close to 9 million rural women into strong self-managed institutional platforms, helping them access services, participate in Gram Sabhas and start engaging in income generating activities. Many of these women are now geared towards moving into higher order economic initiatives in farm and non-farm sectors. It is worthwhile to mention that since its launch in 2011, the National Rural Livelihoods Mission (NRLM) has mobilized 50 million poor rural women into self-help groups and their higher-level federations. These groups have leveraged nearly $30 billion from commercial banks. Key component of the project includes developing financial products using digital financial services to help small producer collectives scale-up and engage with the market. It will also support youth skills development, in coordination with the Deen Dayal Upadyaya Grameen Kaushalya Yojana. Peer to peer learning across States and across communities was a successful strategy under the NRLP and will also continue to be used in this project. The $250 Million Loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a final maturity of 20 years, it may be noted. Hindusthan Samachar/Pramod
लोकप्रिय खबरें
फोटो और वीडियो गैलरी
image