Current Affairs

Government of India to Get a $250-Million Loan from the World Bank

The World Bank will provide a $250-million loan for the National Rural Economic Transformation Project (NRETP).
Government of India to Get a $250-Million Loan from the World Bank
  • National Rural Economic Transformation Project is a new sub-component under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) of the Ministry of Rural Development.

About the National Rural Economic Transformation Project:

  • NRETP supports enterprise development programmes for rural poor women and youth by creating a platform to access finance including start-up financing options to build their individual and/or collectively owned and managed enterprises.
  • The project also involves developing financial products using digital financial services to help small producer collectives scale-up and engage with the market.
  • It also supports youth skills development, in coordination with the Deen Dayal Upadhyaya Grameen Kaushalya Yojana.
  • The key focus of the project is to promote women-owned and women-led farm and non-farm enterprises across value chains, enabling them to build businesses that help them access finance, markets and networks; and generate employment.

One must know:

  • The $250-million loan from the World Bank has a 5-year grace period and a final maturity of 20 years.

Question:

Q. Who will provide a $250-million loan for the National Rural Economic Transformation Project (NRETP) of Government of India?
a. Bank of Japan
b. Asian Development Bank
c. World Bank
d. United Nations
Government of India to Get a $250-Million Loan from the World Bank Government of India to Get a $250-Million Loan from the World Bank Reviewed by Shweta Kashyap on March 08, 2019 Rating: 5

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