World Bank Approves Funding For 2 Projects In Punjab, Maharashtra

World Bank on Wednesday said it has approved funding for two projects in India that will benefit more than 60 lakh people by using innovative digital solutions to improve the quality of education in Punjab and boost incomes for small and marginal farmers in Maharashtra.

The World Bank Board of Executive Directors on November 25 approved two projects in India that will benefit more than 6 million people by using innovative digital solutions to improve the quality of education in Punjab state and boost incomes for small and marginal farmers in Maharashtra state, World Bank said in a statement.

The Punjab Outcomes-Acceleration in School Education Operation (POISE) programme (USD 286 million) will help improve quality education in Punjab with the aid of technology to track learning outcomes. It will ensure 13 lakh students are enrolled in primary schools, and more than 2.2 million students are enrolled in secondary schools. In addition, 59 lakh students will be supported in early childhood education.

The Maharashtra Project on Climate Resilient Agriculture (POCRA) Phase II (USD 490 million) project will enhance crop productivity and strengthen resilience by adopting digital technology in precision farming practices. This method uses technology to ensure that the crops and soil receive exactly what they need for optimum health and productivity, thereby maximizing output and preventing waste.

More than 20 lakh small and marginal farmers in Maharashtra, of which 2.9 lakh are women, will benefit from improved soil health, nutrient management, and water-use efficiency. It will help improve climate resilience and raise income levels by 30% for smallholder farmers across 21 districts in Maharashtra.

World Bank India, Acting Country Director, Paul Proccee, said digital infrastructure has the potential to significantly drive economic development and poverty reduction by increasing efficiency, fostering innovation, and improving outcomes in health, education, agriculture and other essential sectors.

"The two new projects will support India's vision of Viksit Bharat through quality education for better jobs and using technology for increased crop productivity and improved livelihoods," Proccee said.

The POISE project has a final maturity of 19 years, including a grace period of five years, and POCRA Phase II project has a final maturity of 24 years, including a grace period of six years.