Agreement for the National Rural Economy Transformation Project

Agreement for the National Rural Economy Transformation Project

Question: Government of India and World Bank signs __ agreement for the National Rural Economic Transformation Project (NRETP) to boost Rural Incomes across in India.
(a) 250 million dollar, 13 states
(b) 275 million dollar, 15 states
(c) 300 million dollar, 22 states
(d) None of the above
Answer: (a)
Related facts:

  • On 5 March 2019, World Bank and the Government of India signed a 250 million dollar agreement.
  • The National Rural Economic Transformation Project (NRETP) 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 NRETP is an additional financing to the 500 million dollar 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).

Links:
https://www.worldbank.org/en/news/press-release/2019/03/05/usd250-million-agreement-signed-to-boost-rural-incomes-across-13-states-in-india