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With which organisation, the Union Finance Ministry signed a loan agreement worth $200 million for the Assam Agribusiness and Rural Transformation Project?
- a)UNICEF
- b)World Bank
- c)European Central Bank
- d)IMF
- e)International Telecommunication Union (ITU)
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
With which organisation, the Union Finance Ministry signed a loan agre...
Answer – 2. World Bank
Explanation
Union Finance Ministry and World Bank signed a loan agreement worth $200 million for the Assam Agribusiness and Rural Transformation Project. The $200 million from International Bank for Reconstruction and Development (IBRD) is for 16.5 yrs term and has a grace period of seven years. This project will not only increase agriculture productivity and market access, but will also help Assam Govt. to facilitate agri-business investments.
Explanation
Union Finance Ministry and World Bank signed a loan agreement worth $200 million for the Assam Agribusiness and Rural Transformation Project. The $200 million from International Bank for Reconstruction and Development (IBRD) is for 16.5 yrs term and has a grace period of seven years. This project will not only increase agriculture productivity and market access, but will also help Assam Govt. to facilitate agri-business investments.
Most Upvoted Answer
With which organisation, the Union Finance Ministry signed a loan agre...
World Bank Loan Agreement for Assam Agribusiness and Rural Transformation Project
Assam Agribusiness and Rural Transformation Project is aimed at improving the agribusiness environment in Assam, India. The Union Finance Ministry signed a loan agreement worth $200 million with the World Bank to support this project.
Key Points:
- The loan agreement was signed to enhance the agribusiness sector in Assam and promote rural transformation.
- The project focuses on increasing the income of smallholder farmers and promoting agribusiness investments in the state.
- It aims to improve rural infrastructure, enhance agricultural productivity, and strengthen farmer producer organizations.
- The funds from the loan will be utilized to support various initiatives that will benefit farmers and boost the agricultural economy in Assam.
- Overall, the project is expected to have a positive impact on the livelihoods of rural communities and contribute to the economic development of the region.
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With which organisation, the Union Finance Ministry signed a loan agreement worth $200 million for the Assam Agribusiness and Rural Transformation Project?a)UNICEFb)World Bankc)European Central Bankd)IMFe)International Telecommunication Union (ITU)Correct answer is option 'B'. Can you explain this answer?
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