NABARD and ADB team up to launch a Climate Action Initiative

NABARD and ADB team up to launch a Climate Action Initiative

National Bank Of Agriculture And Rural Development(NABARD) and Asian Development Bank (ADB) have jointly launched an initiative to tackle climate related issues in agriculture and the rural sector. NABARD decided to provide technical support to farmers and needy people with the partnership of Bill and Melinda Gates Foundation.

This technical support team will provide assistance regarding climate challenges especially in the rural sector across India and the Agriculture field. This will help farmers and agri lenders in addressing climate related issues. This is one of the ambitious initiatives taken by NABARD.

Need of ‘Climate Action Initiative’:

According to the statement of the chairman of NABARD, 55% assets out of the total assets in the banking industry of India are directly vulnerable to the impacts of climate change. This alarming situation needed to be addressed. That’s why NABARD has come with this great initiative for climate change.

Apart from assisting rural financial institutions in India to recognise and lessen climate risk ,NABARD is also going ahead in the way to attain funds and support from International organizations in agricultural, rural and natural resources across the country.

Technical Support Unit:

Intellecap Advisory Services Private Limited also joined this initiative as partner to manage this technical support unit has experience of years in India to manage large Programme and initiatives especially in agriculture and agri allied sector.

NABARD has also welcomed and invited all the ecosystem organizations, world institutions dealing with climate risks, International organizations to join the climate action initiative taken by NABARD and ADB jointly with the partnership of Bill and Melinda Gates Foundation.

About NABARD:

NABARD was established on July 12, 1982, with the goal of promoting sustainable and equitable agriculture and rural development in India. It focuses on providing financial and developmental support to the agriculture sector and rural areas.

NABARD is owned by the Government of India and the Reserve Bank of India (RBI). NABARD extends credit to various institutions involved in rural development, including farmers, rural artisans, and small businesses. It also supports infrastructure development in rural areas.

NABARD plays a crucial role in implementing various government schemes and programs aimed at rural development, such as the Rural Infrastructure Development Fund (RIDF). It provides short-term and long-term credit facilities to agriculture and allied sectors, cooperatives, and rural infrastructure.

NABARD promotes financial inclusion by supporting initiatives that enhance access to banking services in rural areas. It engages in research and training activities to enhance the skills and knowledge of professionals and stakeholders involved in rural development.

Conclusion:

NABARD encourages sustainable agricultural practices and provides financial assistance for projects promoting environmentally friendly and economically viable practices. This climate action initiative is one of those programs initiated by NABARD to deal with climate challenges.

Important Questions:

1. What is the Climate Action Initiative taken by NABARD and ADB?
2. Describe the evaluation of agriculture reforms in India.

Download Online Mock Test Mobile APP

• Join Official Telegram Channel
• Join Official Whatsapp Group

Recommended PDF’s for 2023:

• Computer Capsule 2022 : Download PDF
• Quantitative Aptitude Topic-Wise Online Test Series 2022
• Banking Awareness (Theory+MCQ’s) Complete PDF : Download Now
• Get FREE Study Materials & PDFs for IBPS , RBI, SBI, LIC AAO , LIC Assistant, NIACL & Other Exams Over the mail and Whatsapp