NEW DELHI, Nov 5 : The World Bank on Tuesday said that its Board of Executive Directors has approved a $200 million program to support farmers in Kerala adapt to climate change and promote agri-entrepreneurs to market value-added products.
“It will also leverage at least $9 million of commercial finance including for agri-food small and medium enterprises (SMEs), especially for women,” World Bank said in a release.
The release said that as the leading producer of spices such as cardamom, vanilla and nutmeg, Kerala accounts for about 20 percent of India’s total agri-food exports but climate change is impeding these achievements.
“The $200 million Kerala Climate Resilient Agri-Value Chain Modernization (KERA) Project will help strengthen the resilience of the state’s agricultural sector to climate change. About 400,000 farmers will benefit through better access to climate-smart practices. These include replanting of climate-resilient varieties of coffee, cardamom and rubber and help expand Kerala’s “food parks” into rural areas,” World Bank said.
The food parks will have essential infrastructure such as water, power, and waste management to support agribusinesses in food processing and value-added products.
“This project will further infuse private sector investment and integrate agricultural value chains for the benefit of farmers and SMEs,” said Auguste Tano Kouam?, the World Bank’s Country Director for India.
“Moreover, it will support agri-based SMEs-especially women who currently own only 23 percent of MSMEs in the state-to gain access to commercial finance by providing training for business plans and to strengthen their commercial viability,” added Kouam?.
(UNI)
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