World Bank to provide $115 million loan for REWARD project

Tags: Economics/Business

• The World Bank  arm International Bank for Reconstruction and Development (IBRD) will provide a $115 million (Rs 869 crore) loan to India for the implementation of Rejuvenating Watersheds for Agricultural Resilience through the Innovative Development (REWARD) Programme.

• Out of this, Karnataka will get  $60 million (INR 453.5 crore), Odisha will get  $49 million (INR 370 crore), and the remaining $6 million (INR 45.5 crore) will be for the central government’s Department of Land Resources.

IBRD 

• International Bank for Reconstruction and Development (IBRD)  is a World Bank Group which provides loans to its 189 member countries for development purposes .

• Its Headquarters is in Washington D.C, United States of America .

 Full form for exam 

• REWARD : Rejuvenating Watersheds for Agricultural Resilience through Innovative Development

• IBRD: International Bank for Reconstruction and Development