Asian Development Bank Approves $100 Million Loan for Agribusiness Development in India
The Asian Development Bank (ADB) approved on 27 September a $100 million loan to improve agribusiness network and productivity in Maharashtra, India.
Maharashtra produces 11% and 6% of India’s fruit and vegetable production, respectively, and accounts for about 8% of the country’s floriculture exports. Despite ample opportunities for the growth of horticulture, most smallholder farmers still practice subsistence farming because of fragmented land ownership, insufficient capital to scale up, and lack of direct access to emerging high-value markets.
“To maximize the benefits from the horticulture industry, the linkages between value chain operators (VCOs) and farmers need to be strengthened,” said ADB Principal Rural Development Specialist for South Asia Masahiro Nishimura. “The project will help small and marginal farmers in Maharashtra improve their post-harvest and marketing capacity, reduce food losses, and increase incomes through access to finance, capacity building, and horticulture value chain infrastructure development. The project will also support inclusive development through gender equality and social inclusion actions.”
Photo courtesy of Ray Witlin.