GOI, Govt of Maharashtra, and WB sign US$ 420 million project

Speed Post News Network

New Delhi : The Government of India (GOI) , Government of Maharashtra and the World Bank signed here on April 6, 2018, a US$ 420 million project to help Small and Marginal farmers in the Marathwada and Vidarbha regions of Maharashtra. The project will help in increasing climate resilient practices in agriculture and ensuring that farming continues to remain a financially viable activity for them.

The Maharashtra Project for Climate Resilient Agriculture is expected to benefit over 7 million people spread over an area of 3 million ha and cover 5,142 villages across 15 most climate vulnerable districts of the region.The $420 million loan from the International Bank for Reconstruction and Development (IBRD) has a 6-year grace period and a maturity of 24 years, according to a PIB release.

The Agreements for the Maharashtra Project for Climate Resilient Agriculture were signed by Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India, Bijay Kumar, Additional Chief Secretary, Agriculture Department, on behalf of the Government of Maharashtra, and Junaid Ahmad, Country Director, World Bank, India, on behalf of the World Bank.

The Maharashtra Project for Climate Resilient Agriculture will be implemented in rural areas largely dependent upon rainfed agriculture. The project will take up a series of activities at the farm and watershed level. It will scale up climate-resilient technologies such as micro irrigation systems, expand surface water storage, and facilitate aquifer recharge, which is expected to directly contribute to a more efficient use of scarce water resources. By adopting climate-resilient seed varieties which have short maturity, and are drought and heat resistant, and salt tolerant, the project will help reduce risks of climate-related crop failure, and help enhance farmer’s income.

In recent years, climate variability has affected agriculture in Maharashtra, where farming is largely dominated by small and marginal farmers. Farmers have low crop productivity and a high dependence on rainfall. Severe drought in the past has affected the state’s agriculture performance.

To strengthen emerging value chains for climate-resilient agricultural commodities, the project will improve the capacity of Farmer Producers Organizations to operate as sustainable, market-oriented, agri-enterprises. It will help mainstream the climate resilient agriculture agenda in various local institutions that deliver agricultural services to the farming community.

Khare said the Project will strengthen the resilience of small and marginal farmers against adverse climate events by promoting agricultural technologies and farming practices that are aimed at improving soil health, water-use efficiency and crop productivity. Junaid Ahmad said that for India to sustain its growth across generations and become one of the world’s largest middle-class economies, the country needs to shift to a more resource-efficient growth path, which is inclusive.