ADB and India sign $10 million loan to support horticulture in HP

The Asian Development Bank (ADB) and the Government of India have signed a $10 million project readiness financing (PRF). This agreement aims to help finance piloting activities, and design and capacity building for an ensuing project that aims to expand horticulture production and farm household income in the hill state of Himachal Pradesh.

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About the project:

  • The PRF project will support advance actions to achieve a high level of project readiness through detailed design activities, capacity building of state-level agencies, and creating an enabling environment for subtropical horticulture development in the state.
  • The PRF project aims to ensure implementation readiness with prior testing of new production technologies and marketing systems so that the ensuing project is cost-effective and gets completed in a timely manner to enhance farm profitability.
  • The ensuing project, to be designed by the PRF, will support the development of subtropical horticulture, including cultivation of fruits and vegetables, in the state’s southern region which is currently lagging due to limited access to perennial water sources, crops losses due to wild animal encroachment and limited access to high-value markets.

Important takeaways for all competitive exams:

  • Chief Minister of HP: Jairam Thakur; Governor of HP: Bandaru Dattatraya.

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