World bank will be providing a loan of amount $318 million to Tamil Nadu for moderanization of irrigation projects in the state to benefit approximate 5,00,000 farmers of state. Under the world bank loan for Tamil Nadu, a tripartite agreement was signed between central government, the World Bank and the state government of Tamil Nadu.
Benefits of World Bank Loan to Tamil Nadu:
The loan agreement of World Bank and Tamil Nadu will benefit about 50,00,000 small and medium sized farmers. It will help them to improve their irrigation methods by moderanizing them with techniques such as modernised tank irrigation systems. The loan will help them to adopt climate resilient techniques. Moreover market opportunities for small and marginal farmers will also be increased.
Under the moderization of irrigation system, 4,800 irrigation tanks and 477 check dams across 66 sub-basins will be rehabilitated. This is going to be help the Tamil Nadu state a lot as the it is a water stressed state where water shortage is a common problem. Such efforts in irrigation will really be very helpful for the state to improve its agriculture produce.