NABARD, ADB collaborate for climate resilience in agriculture, rural development

National Bank for Agriculture and Rural Development (NABARD) and Asian Development Bank (ADB) have together launched an initiative to facilitate climate action in India’s agriculture, natural resources, and rural development (ANR) sector. The official statement said that under the initiative, a Technical Support Unit (TSU) has been set up in NABARD with the partnership of Bill and Melinda Gates Foundation (BMGF) to enable NABARD to address the challenges posed by climate change, particularly in the areas of agriculture and rural livelihood sectors in India.

During the launch of the initiative, Shaji K V, Chairman of NABARD, highlighted the importance of enhancing climate resilience since close to 55% of assets in the Indian Banking sector is prone to climate risks. He mentioned, “NABARD is committed to not just support rural financial institutions in India to identify and abate climate risks but also channel global pools of climate capital into India’s ANR sector. At the same time, NABARD is also focussed on setting up a path to climate neutrality in its own operations.”

Mio Oka, Director, Agriculture, Food, Nature, and Rural Development Sector Office, ADB and Srivalli Krishnan, Senior Program Officer, BMGF were also present during the launch event.

Intellecap Advisory Services Private Limited has been appointed to manage this Technical Support Unit. The statement said that Intellecap has proven experience in on-ground management of large-scale programs in agriculture and other agri-allied sectors, with a climate adaptation as well as mitigation focus. NABARD also used the opportunity to call all the ecosystem partners to join them in this journey and make this planet a better place to live.

NABARD has also recently inked a framework MoU with National Cooperative Development Corporation (NCDC) and NBCC for construction of world’s largest grain storage plan in cooperative sector. These units shall be constructed using innovative building technologies.

About NABARD

The National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India with headquarters in Mumbai. NABARD operates to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institutional development, and other innovative initiatives. NABARD plays a crucial role in fostering rural development, empowering farmers, and catalyzing the growth of the rural economy.

(Visited 125 times, 1 visits today)
Subhash Yadav

Recent Posts

Australian electrolyser maker Hysata secures $111 million from global investors

Hysata has closed the largest Series B in Australian clean tech history, announcing USD 111…

8 hours ago

Cepsa selects electrolyser suppliers for 400-MW green hydrogen facility in Spain

Thyssenkrupp nucera is the preferred supplier of a 300-megawatt (MW) electrolyzer for green hydrogen plant…

8 hours ago

NTPC sets new milestone with 20% biomass co-firing

NTPC Limited has achieved a significant milestone by successfully demonstrating the co-firing of 20% torrefied…

8 hours ago

Shell Energy Philippines inks deal for biomass offtake for its facility

Shell Energy Philippines has inked a deal with the North Negros Biopower Inc. for offtake…

8 hours ago

ORS launches Alpha Carbon special platform for activated carbon market

Mumbai based renewable energy firm Organic Recycling Systems Limited has announced the launch of Alpha…

8 hours ago

Spotlight On Carbon Markets At New Delhi On May 16

Carbon Markets Association of India (CMAI) presents an exclusive Carbon Policy Development Conclave. Set to unfold…

14 hours ago