Home ECONOMY WB to provide Rs 1,000 cr for development of agriculture in Odisha

WB to provide Rs 1,000 cr for development of agriculture in Odisha

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Odisha Sun Times Bureau
Bhubaneswar, Apr 18:

The World Bank has expressed its interest to provide Rs 1,000 crore to Odisha for development of agriculture and allied sector in the state.

paddy field

The Bank has laid emphasis on modernization of agriculture, fisheries and animal resources in the state.

A delegation of the World Bank on agriculture, fisheries and animal resources held discussions with principal secretary Agriculture Rajesh Verma and secretary Fisheries and Animal resources development Bishnupada Sethi at the state secretariat here yesterday.

The World Bank will provide Rs 1,080 crore to Odisha through its group affiliate International Development Agency (IDA). A total expenditure of Rs 1,200 crore will be incurred under the project. While the state government will contribute Rs 120 crore towards the project, the rest Rs 1,080 crore will be provided by the World Bank.

The project will be implemented in all the 30 districts of the state within a span of six years. Especially, small and marginal farmers will benefit from the project.

While five lakh families of farmers will benefit directly under the project, seven lakh farmer families will benefit indirectly.

The World Bank team was all praise for Sethi’s efforts for the development of agriculture and allied sectors.

During its earlier visit to the state, the World Bank team had held discussions with additional chief secretary Finance R Balakrishnan. As the state government has been emphasizing on the growth of agriculture Balakrishnan had shown special interest towards this project.

Following in-principle approval of the project by the state government, the proposal will be sent to the Union Agriculture Ministry. The Economic Affairs department ofthe Union government would then send the proposal to World Bank for its approval.

The World Bank team hoped that  development of agriculture and allied sectors in the state will be achieved with less use of resources through the project.