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India and World Bank Sign $250 Million Agreement To Boost Rural Incomes

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The World Bank and the Government of India signed a $250 Million Agreement for the National Rural Economic Transformation Project (NRETP) which will help women in rural households shift to a new generation of economic initiatives by developing viable enterprise for farm and non-farm products.

A Key Focus of the Project will be to promote women-owned and women-led farm and non-farm enterprises across value chains; enable them to build businesses that help them access finance, markets and networks; and generate employment.

The National Rural Economic Transformation Project (NRETP) is an additional financing to the $500 million National Rural Livelihoods Project (NRLP) approved by the World Bank in July 2011. The NRLP which is currently being implemented across 13 states, 162 districts and 575 blocks, has so far mobilized more than 8.8 million women from poor rural households into 750,000 self-help groups (SHGs). These SHGs have been further federated into 48,700 Village Organizations and 2900 Cluster/Gram Panchayat-level Federations. While these 13 states will continue to be supported under the new project signed, 125 new districts will be added from within these states.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, March 06 2019. 12:42 IST
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