India signs $200 mn deal with World Bank for rural transformation in Assam

business

Updated: Oct 30, 2017 18:31 IST

The finance ministry and the World Bank announced on Monday the signing of a loan agreement worth $200 million for the Assam Agribusiness and Rural Transformation Project.

“Project will support Assam Govt. to facilitate agri-business investments, increase agriculture productivity and market access among others,” the finance ministry said in a tweet.

Project will support Assam Govt. to facilitate agri-business investments, increase agriculture productivity & market access among others. — Ministry of Finance (@FinMinIndia) October 30, 2017

It said the project will enable small farm holders to produce crops that are resilient to recurrent floods or droughts in the state.

“The $200 million loan from International Bank for Reconstruction and Development (IBRD), has a seven year grace period, and a maturity of 16.5 yrs,” added another tweet.

The World Bank will release it’s Doing Business report on October 31.