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$98 million loan agreement between India and ADB

Why in news

  • Recently, India and Asian Development Bank (ADB) signed a $98 million loan.
  • This agreement has been done to improve the access of horticultural crop farmers to certified disease-free planting material.
  • This will increase the yield, quality and resilience of their crops to climate impacts.
  • This project supports the Government of India's Atmanirbhar Clean Plant Program (CPP).
    • It improves plant health management.
  • The project will involve intensive consultation with private nurseries, researchers, state governments and growers' associations.
  • Plant health management will also help farmers adapt to climate change
    • as rising temperatures not only lead to extreme weather events
      • but also affect pest and disease behavior.
  • Clean Plant Certification Scheme will be launched under this project. • Private nurseries will be accredited and their planting material will be tested and certified.
  • It will be implemented by the Ministry of Agriculture and Farmers Welfare through the National Horticulture Board and the Indian Council of Agricultural Research.

Asian Development Bank

  • It is a regional multilateral institution focused on the Asia-Pacific region.
  • It provides loans to member countries to promote social and economic development
  • Established – Year 1966
  • Members – 68
  • Headquarters – Manila (Philippines)
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