The World Bank on 28 March 2012 approved a 109-million dollar grant to fund Rajasthan Agricultural Competitiveness Project. The project is aimed at promoting water-efficient agriculture through sustainable and efficient use of resources in Rajasthan.
The project is likely to benefit about 155000 farmers, mainly those with small land holdings in the state. The project, in line with the state’s water policy of 2010 will help farmers move from low value and water-guzzling crops to high value farming.
India is one of the largest recipient of World Bank’s loan. The World Bank provides monetary support to India to fund its several social development projects. In the most recent past the multi-lateral lender, on 23 March 2012, had offered a 500-million dollar interest-free credit to India for improving the standards of secondary education in the country.
India was the largest recipient of the World Bank loans with over 9-billion dollar worth assistance in the fiscal year ending June 2010.
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