World Bank aid for Maharashtra agribiz project.

The Maharashtra government has decided to raise Rs. 1,554 crore from the World Bank to support a project which will enhance private sector participation in the agribusiness. The total project cost is Rs. 2,220 crore

The project has been named State of Maharashtra’s Agribusiness and Rural Transformation Project (SMART). It received State Cabinet approval recently.

A press statement issued by the Chief Minister’s Office said the project aims to create basic Agri marketing infrastructure across the State. In the existing agriculture markets, platforms will be created for online auctions of the products, export facilitation, quality control and e-trading.

World Bank’s assistance for the project will be for 70 per cent ( Rs. 1,554) of the project costs. The renaming project cost would be borne by State government with a contribution of Rs. 592 crore, plus Rs. 74 crore chipped in from the Village Social Transformation Foundation.

HBL