On March 11, 2020 The Government of India, Government of Himachal Pradesh(HP) & the World Bank signed a loan agreement of US$80 million (about Rs 600 crore) to improve water management practices & also to increase agricultural productivity in selected Gram Panchayats (Village Councils) in HP.Gist about the Project
i.The Integrated Project for Source Sustainability & Climate Resilient Rain-Fed Agriculture to be implemented in 428 Gram Panchayats in 10 districts which will benefit over 400,000 smallholder farmers, women & pastoral communities.
ii.It will improve upstream water sources to ensure sufficient water is available for sustainable agriculture in Himachal Pradesh & downstream states.
iii.The key component of the project is to enhance the climate resilience of agriculture & its allied activities for which efficient use of water is the focal point
iv.It will establish hydrological monitoring stations to monitor the water quality and quantity.
v.It will also work in collaboration with other government programs especially with agriculture, horticulture, and animal husbandry departments & also will support institutions through training of gram panchayats for management of its water resources.
vi.The loan agreement was signed by the Additional Secretary of Department of Economic Affairs Sameer Kumar Khare & Junaid Kamal Ahmad, Country Director for India, the World Bank.
vii.The project agreement was signed by Ram Subhag Singh, Additional Chief Secretary (Forest) & Junaid Ahmad, Country Director for India, the World Bank.
viii.The loan from the International Bank for Reconstruction and Development (IBRD) (which is one of the 5 member institutions of the World Bank) has a final maturity of 14.5 years including a grace period of five years.
About World Bank:
Headquarters– Washington, D.C., United States.
President- David R. Malpass