World Bank approves project to promote rainfed farming in Uttarakhand

Tags: National News

The World Bank has approved a Rs 1,000 crore project to take rainfed farming to new heights in the hilly regions of Uttarakhand.

  • The Climate Responsive Rain-fed Farming Project will be implemented by the Watershed Department of Uttarakhand.

  • The Uttarakhand government had proposed the project which aims to reduce greenhouse gas emissions for funding by the World Bank.

  • The project will be financed by the World Bank.

  • Additionally, it will encourage eco-friendly agricultural practices so that youth and farmers have an economically viable option.

  • About World Bank

  • The International Bank for Reconstruction and Development and the International Monetary Fund were established together in 1944 during the Bretton Woods Conference in New Hampshire, USA.

  • The International Bank for Reconstruction and Development is also called the World Bank.

  • At present, 189 countries are members of the World Bank.

  • Its headquarter is in Washington DC, the capital of America.

  • The World Bank Group is a group of the following five international organisations that provide economic-financial assistance and financial advice to member countries-

  • International Bank for Reconstruction and Development

  • International Finance Corporation

  • international development association

  • International Centre for Settlement of Investment Disputes

  • Multilateral Investment Guarantee Agency

  • President- David Malpass 

  • CEO- Anshula Kant 

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