AMN / NEW DELHI
The Government of India and New Development Bank NDB today signed a loan agreement for one thousand million dollar to provide support to Aatma Nirbhar Bharat Abhiyan through MGNREG Scheme.
The Finance Ministry said, the programme will support Government in mitigating the adverse economic impact of COVID-19 pandemic and enable economic recovery in the rural areas through Natural Resource Management (NRM) works.
This will facilitate economic activity and employment generation to stimulate rural demand, to combat the decline in economic activity due to outbreak of COVID-19.
The Ministry said, the programme proposes creation of durable rural infrastructure assets relating to NRM and generation of employment opportunities for rural poor, especially migrant workers who have returned from urban areas and have lost their livelihoods due to the COVID-19 pandemic.
The agreement was signed by Joint Secretary in Department of Economic Affairs Baldeo Purushartha and Xian Zhu, the Vice President and Chief Operations Officer on behalf of the New Development Bank.