Asian Development Bank has agreed to lend $100 million to Jammu and Kashmir for commercialisation of agriculture and development of farm-based business, A A Zargar, the state agriculture minister, said in Jammu.
The bank agreed to lend $100 million to the state at a meeting of ADB consultants and Zargar in New Delhi on Thursday evening, and appointed a team of consultants for planning the execution of projects that are to be funded by the loan.
The consultants had been appointed to prepare detailed feasibility studies for development of agriculture business and commercial agriculture in the state, Zargar said.
The team informed the minister that Jammu and Kashmir was one of the five focus states selected by ADB.
The minister said the team would complete the assessment and feasibility study report by March 2005 and disbursement of loan would start from April 2005.
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