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Discussion :: Banking - Latest Current Affairs (Q.No.328)

328. 

Which bank grant 250 Million dollars for NRETP to boost Rural incomes in India?

[A]. World Bank
[B]. Asian Development Bank
[C]. Reserve Bank of India
[D]. European Investment Bank

Answer: Option A

Explanation:

In order to provide a boost to rural income across 13 states on India, World Bank shall provide $250 million support to the National Rural Economic Transformation Project (NRETP). The agreement was signed between the World Bank and Government of India. The Agreement was signed in New Delhi by Mr. Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India and Mr. Hisham Abdo, Acting Country Director, World Bank India. The loan aims to help rural women entrepreneurs in setting up their businesses related to farm and non-farm products. The loan has a 5-year grace period with a final maturity of 20 years. National Rural Economic Transformation Project (NRETP) is an add-on to the National Rural Livelihoods Project (NRLP) worth $500-million, which was approved by the World Bank in July 2011. The National Rural Livelihoods Project (NRLP) currently spans across 13 states, 162 districts and 575 blocks. It has integrated 8.8 million women from poor rural households into 7.5 lakh self-help groups (SHGs).

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