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UN arm to grant $150 mn to India in next 3 yrs

IFAD has provided $17.7 bn to projects reaching about 45.9 crore people

Policy Pulse
Publish Date: May 16 2016 4:02PM | Updated Date: May 16 2016 4:02PM

UN arm to grant $150 mn to India in next 3 yrs

 United Nation's International Fund for Agricultural Development ( IFAD ) will grants $150 million (around Rs 1,001 crore) to India in the next three years to help the farm sector.

"IFAD will invest $150 million for the agriculture sector in next three years in India," Oscar Garcia, Director, Independent Office of Evaluation (IOE), IFAD was quoted as saying in media. 
Agency, which  has been working in India since 1978, has provided $17.7 billion in grants and low-interest loans to projects reaching about 45.9 crore people in rural areas to lessen poverty. 
Garcia said IFAD wants to make sure that benefits remain once projects are over to ensure sustainability of the work. 
"I think better convergence with the schemes and programmes of the government of India is a very good way to ensure a better sustainability of benefits," Garcia said. 
Another official Fabrizio Felloni said there is a need for better connections of farm produces with markets that will increase the efficiency and make households self sufficient. 
IFAD projects in rural areas have been able to increase the material conditions of the households and health of women, among other, Felloni said. 
"Centre assured funding in public programmes. But we look more and more on quality and that the projects are well targeted," Felloni said.
On the recurrence of drought in the country, Garcia said there is a need for more sustainable use of water resources in rural areas as well as more conscious approach towards natural resources management.