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World Bank, Fin Min sign loan deal worth $200 mn for aiding Assam agri-biz

The loan will have a 7-yr grace period

ANI  |  New Delhi 


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

"Project will support Govt to facilitate agri-business investments, increase agricultural productivity and market access among others," the Ministry said in a tweet.

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

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

However, the World will release it's 'Doing Business' report on October 31.

Following this, Prime Minister Narendra Modi had reportedly ordered ministries to work towards improving India's rank in the Ease of Doing Business.

First Published: Mon, October 30 2017. 18:22 IST