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