World Bank: UP Government Secures World Bank Loan for Innovative Agriculture Growth Plan | Lucknow News

Lucknow: The state Cabinet on Tuesday cleared a proposal for availing loan from the World Bank to roll out the UP-Agriculture Growth and Rural Enterprises Ecosystem Strengthening (UP-AGREES) Scheme.
The total cost of the scheme is Rs 4,000 crore, for which the World Bank will give a loan of Rs 2,737 crore to the UP govt for a period of 35 years at an interest rate of 1.23%.The state govt’s share in the scheme is Rs 1,166 crore.
The scheme aims to increase the income of farmers within the area covered by it and contribute to improving the state’s economy in the process.
Those who stand to benefit under the scheme include all farmers within the scope of the scheme, farmer producer organizations, agriculture produce organizations, those involved in fisheries, fisheries cooperatives, private owners of ponds, women self-help groups, entrepreneurs, and exporters related to the field of agriculture.
The scheme will work by identifying shortfalls in agriculture and related fields to increase productivity of major crops, post-crop management, development of market support systems and value addition, storage, food processing, etc.
Several new processes have been included in the scheme, which include setting up of centres of excellence for crop clusters for agricultural produce, establishment of a digital agriculture ecosystem and service delivery platforms, creating an export hub near Jewar Airport, establishment of an agriculture SEZ, increasing exports of 2-3 major produce, establishment of a world-class carbon credit market, and establishment of 2-3 world-class hatcheries, among others. TNN

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