With reference to the ‘India Covid Response Programme for Agriculture Transition’ consider the following statements:

With reference to the ‘India Covid Response Programme for Agriculture Transition’ consider the following statements:

1. It is announced by United States(US) International Development Finance Corporation(DFC) in collaboration with United States Agency for International Development (USAID) to address the economic impact of Covid-19 in India.

2. It is an 8-years sponsor project programme with a credit guarantee of USD 55 million (Rs.400 Crore).

Choose the correct statement/s.

A. 1 Only

B. 2 Only

C. Both 1 & 2

D. None

Answer: Both 1 & 2

Explanation:

The United States (US) International Development Finance Corporation (DFC) in collaboration with United States Agency for International Development (USAID) jointly announced an 8-year sponsor programme with a credit guarantee of USD 55 million (~ Rs 400 crores) named ‘India Covid Response Programme for Agriculture Transition’ to address the economic impact of COVID-19 in India.

The objective of the programme is to improve the linkages and increase the income of farmers while having a positive environmental impact. Loans will be provided to Farmer Producer Organizations(FPO), agriculture- technology companies (Ag-tech), Companies engaged in Clean Energy Sectors of agriculture, women and vulnerable sections in India.

UPSC Daily Current Affairs Quiz Test 25 September 2021 Click Here