World Bank's loan to India for Implementation of REWARD Project:
Recently the Govt. of India, the State Governments of Odisha and Karnataka have signed a $115 million (INR 869 crore) with World Bank for Reward Programme. Under Rejuvenating Watersheds for Agricultural Resilience through Innovative Development (REWARD) Programme national and state bodies will adopt enhanced watershed management practices in the agricultural sector and increase farmers’ resilience to climate change, promoting higher productivity and better incomes through environment inclined farming.
About the Loan-
International Bank for Reconstruction and Development (IBRD), the lending arm of the World Bank for middle income and developing economies, provide this $115 million as a loan. The loan has a maturity of 15 years which include a grace time of 4.5 years.
The loan will be divided among Odisha($49 million), Karnataka($60 million) and GOI($6 million).
SPECIAL NOTES FOR ASPIRANTS:
- World Bank HQ- Washington, D.C., USA
- The world was established in 1944 through the Bretton Woods agreement.
- World Bank Governor- David Malpass.
- World Bank MD and CEO- Anshula Kant
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