New Delhi. The World Bank’s Board of Executive Directors on Dec. 12, 2024 approved a new project in Uttar Pradesh (UP) to increase farmers’ incomes through improved crop productivity, adoption of digital technologies and climate-resilient practices, and strengthened market linkages. The project also aims to leverage $15 million in private finance to support these initiatives.
Over the last decade, UP’s output in agriculture has steadily climbed, leading the country in wheat production, ranking second in rice production, and becoming the third-highest agricultural exporter. However, small farmers face low productivity and inadequate post-harvest infrastructure which continues to limit their incomes. In addition, small landowners have limited access to investments and modern technologies.
The $325.10 million Uttar Pradesh Agriculture Growth and Rural Enterprise Ecosystem Strengthening (UP-AGREES) Project will strengthen agricultural value chains, improve access to finance, and create opportunities for value addition. Further, innovative financial instruments will be launched to make access to credit such as the Kisan Credit Card (eKCC) more timely, affordable, and transparent. The Project will benefit one million producers across Eastern UP and Bundelkhand regions of the state.
“The project will promote sustainable practices such as low-methane rice varieties, rice residue collection and conversion into biogas, and optimized fertilizer use, reducing agriculture’s impact on climate change and boosting productivity,” said Auguste Tano Kouame, the World Bank’s Country Director for India. “The project will also establish a dedicated center for building the capacity of government officials and farmers in climate adaptation strategies.”
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