A tripartite agreement has been signed between the Andhra Pradesh government, the Government of India and the IFAD (International Fund for Agricultural Development) in connection with the drought mitigation project.
The IFAD will be providing USD 75 Million for five years to improve incomes of 1,65,000 poor households and strengthen their resilience to drought.
The signatories who penned the agreement are Rasha Omar, Country Program Officer, IFAD and DEA Joint Secretary Sameer Kumar Khare IAS.
IFAD is an international financial institution and a specialised agency of the United Nations dedicated to eradicate poverty and hunger in rural areas of developing countries.
It was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference.
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