Troika has been inked worth $75 million (₹500 crore) credit deal for the Andhra Pradesh Rural Inclusive Growth Project.
- The accord has been signed between the Centre, Andhra Pradesh and World Bank.
- The agreement was signed by Raj Kumar, Joint Secretary (Department of Economic Affairs) of Ministry of Finance; Sunitha Kolaventy, Finance Secretary of Andhra Pradesh and Onno Ruhl, World Bank Country Director in India.
Project aim
To enhance agricultural incomes of small and marginal farmers
To ensure increased access to services related to health, nutrition, sanitation and social entitlements.
Priority areas
- Backward mandals – Accord will focus on increasing economic opportunities for small and marginal farmers, especially from Scheduled Caste (SC) and Scheduled Tribe (ST) households in the 150 most backward mandals.
- Social enterprises – It will invest in developing a network of social enterprises for food, nutrition, sanitation and other social enterprises which operate at community and district level.
Benefits
The Project will help in linking small and marginal farmers to urban markets and make them competitive across the value chain.
- Investments will be made for increasing the nutritional content of products such as milk, vegetables and poultry.
About World Bank
World Bank is an international financial institution that provides loans to developing countries with a motto “Working for a World Free of Poverty”. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
- Establishment – July 1944
- Parent organization – World Bank Group
- Headquarters – Washington D.C., United States
- Membership – 188 countries (IBRD) & 172 countries (IDA)
- WB Prez – Jim Yong Kim
