World Bank approval for ₹2,365.5-crore KERA project: Agriculture Minister P. Prasad

The World Bank has cleared a ₹2,365.5-crore project submitted by the State Agriculture department for the Kerala Climate Resilient Agri-Value Chain Modernisation (KERA) Project.

A meeting of the World Bank executive directors held on October 31 gave its approval for the project and sanctioned an assistance of ₹1,655.85 crore ($200 million), Agriculture Minister P. Prasad said here on Monday. The corresponding State government share is ₹709.65 crore.

KERA project will be implemented in the State over the next five years, according to him. Climate-smart initiatives under KERA will benefit four lakh farmers directly while about 10 lakh farmers stand to gain indirect benefits. The World Bank assistance also includes ₹76 crore for small and medium farming enterprises led by women.

KERA has five components: climate resilience in agriculture (₹790.43 crore), enhancing small-holder commercialisation for value addition (₹899.13 crore), strengthening agribusiness and food system (₹508.89 crore), project management unit and, finally, the contingent emergency response component. The KERA project is designed to energise the State’s farm sector, integrate the value networks in the sector and also help build alliances between farming groups and agribusinesses, according to the Agriculture department.

Published – November 04, 2024 09:09 pm IST

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