Current Affairs - State - Discussion

The Government of India and the World Bank signed a $318 million loan agreement for the Tamil Nadu Irrigated Agriculture Modernization Project to promote climate resilient agriculture technologies to improve water management practices and increase market opportunities for small and marginal farmers. About 500,000 farmers, of which a majority are small and marginal, are expected to benefit from improved and modernized tank irrigation systems. The $318 million loan from the IBRD has a 5-year grace period and a maturity of 19 years.