National Rural Economic Transformation Project (NRETP)

Context: 

  • Recently India has signed a $250 million loan agreement with the World Bank for the National Rural Economic Transformation Project (NRETP) that aims to help women in rural households shift to a new generation of economic initiatives by developing viable enterprise for farm and non-farm products.

About National Rural Economic Transformation project:

  • The National Rural Economic Transformation project is additional financing to the $500 million National Rural Livelihoods Project (NRLP) approved by the World Bank in July 2011.
  • The project will support enterprise development programs for rural poor women and youth by creating a platform to access finance including start-up financing options to build their individual or collectively owned and managed enterprises.
  • The project will involve developing financial products using digital financial services to help small producer collectives scale-up and engage with the market.
  • It will also support youth skills development, in coordination with the Deen Dayal Upadhyaya Grameen Kaushalya Yojana.

Source:TH