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World Bank Grants Loan to Support Agri & Rural Development in China

Today, the Beijing office of the World Bank declared that it approved a loan of 345 million US dollars to aid the progress of eco-friendly agriculture and rural regions in the Hubei and Hunan provinces situated in central China.

Shivam Dwivedi
World Bank Grants Loan to Support Agri & Rural Development in China
World Bank Grants Loan to Support Agri & Rural Development in China

As per the statement released by the office, the loan will be utilized in combination with government funds to effectively combat greenhouse gas emissions that arise from crop and livestock farming. The primary objective is to reduce these emissions and achieve a more sustainable and environmentally friendly method of farming.

Furthermore, the funds will also be utilized to enhance the soil carbon sinks, which can aid in reducing the overall carbon footprint of the agricultural sector. The loan will also be used to strengthen biodiversity protection and facilitate the restoration of agricultural ecosystems.

Another important goal of this initiative is to assist local governments in integrating environmental and decarbonization goals in their rural revitalization plans and investment projects. This will enable local communities to focus on developing sustainable solutions and achieving long-term environmental benefits.

A diverse range of activities will be undertaken to promote sustainable rural development. These include offering training programs and agricultural extension services to farmers and cooperative members. Additionally, there will be a concerted effort to encourage farmers and food processors to adopt climate-smart agricultural technologies and good agricultural practices.

Furthermore, initiatives will be launched to improve rural sewage and garbage treatment services, with the goal of optimizing waste management in rural areas. Finally, standards and methods related to green agriculture and rural development will be introduced to help drive sustainable growth in these critical areas.

"This programme will introduce targets and innovative practices for greening agriculture while enhancing the resilience of the government's rural revitalization programme in Hubei and Hunan, generating lessons that can be applied across the country," said Mara Warwick, World Bank Country Director for China, Mongolia, and Korea.

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