$318 Million Loan Agreement Signed with World Bank for Farmers in Tamil Nadu

The Government of India, the Government of Tamil Nadu and the World Bank signed a $318 million loan agreement for the Tamil Nadu Irrigated Agriculture Modernization Project to promote climate resilient agriculture technologies, improve water management practices, and increase market opportunities for small and marginal farmers.

About 500,000 farmers, of which a majority are small and marginal, are expected to benefit from improved and modernized tank irrigation systems. The $318 million loan from the IBRD has a 5-year grace period and a maturity of 19 years.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • IBRD- International Bank for Reconstruction and Development.
  • World Bank President- Jim Yong Kim (12th), Headquarters- Washington DC, USA.
Source- DD News