ADB, India Ink $100 Million Loan Deal For Agribusiness Development In Maharashtra

ADB, India Ink $100 Million Loan Deal For Agribusiness Development In Maharashtra

New Delhi, October 28 (TNA) The Asian Development Bank (ADB) and the Government of India have signed a $100 million loan to promote agribusiness network to boost farm incomes and reduce food losses in the State of Maharashtra.

The project supports agribusiness development in Maharashtra with holistic support to on-farm improvement in productivity, up-gradation of post-harvest facilities, and establishing efficient marketing structures to benefit horticulture producers.

The ADB loan will help provide financing opportunities for farmer producer organizations (FPOs) and value chain operators (VCOs) through matching grants and financial intermediation loans to support 300 subprojects.

It will help small and marginal farmers in Maharashtra improve their post-harvest and marketing capacity, reduce food losses, and increase incomes through access to finance, capacity building, and horticulture value chain infrastructure development,” an ADB official said.

Though Maharashtra produces 11% and 6% of India’s fruit and vegetable production, respectively, and accounts for about 8% of the country’s floriculture exports, most smallholder farmers lack capital to scale up and do not have direct access to emerging high-value markets.

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