The World Bank has approved a $197 million International Development Association (IDA) credit to increase the agricultural productivity of barren lands in Uttar Pradesh. The credit from the IDA, the World Bank?s concessionary lending arm, carries a 0.75% service fee, a 10-year grace period, and a maturity of 35 years.
The third Uttar Pradesh sodic lands reclamation project builds on the achievements of the first two such projects in the state which have already helped reclaim more than 2,50,000 hectares of unproductive land.
??More than 4,25,000 poor families have benefitted so far, experiencing three-to-six-fold increase in crop yields. The new project is expected to directly benefit over 3,25,000 farm families,?? said Roberto Zagha, World Bank Country Director for India.
In the third phase of support, a further 1,30,000 hectares of predominantly barren and low productivity sodic lands in about 25 districts will be reclaimed. This will help improve food security for thousands of poor farming families.
The World Bank release said beyond reclaiming sodic lands for sustainable agricultural use, the project also aims to boost agricultural productivity through introducing new technology, better agronomic practices, and more effective provision of key support services.