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National Rural Economic Transformation Project (NRETP)

News: World Bank and GoI signed a $250 Million Agreement for the National Rural Economic Transformation Project (NRETP)

About

  • It will help women in rural households shift to a new generation of economic initiatives by developing viable enterprise for farm and non-farm products.
  • A Key Focus of the Project will be to promote women-owned and women-led farm and non-farm enterprises across value chains; enable them to build businesses that help them access finance, markets and networks; and generate employment.
  • The National Rural Economic Transformation Project (NRETP) is an additional financing to the $500 million National Rural Livelihoods Project (NRLP)
  • The NERTP 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 and/or collectively owned and managed enterprises.
  • The other key component of the project includes 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 Upadyaya Grameen Kaushalya Yojana.
  • Peer to peer learning across States and across communities was a successful strategy under the NRLP and will also continue to be used in this project.
  • The Project will continue to give technical assistance, skills building and investment support to strengthen women-owned and women-led producer collectives diversify into high value farm and non-farm commodities such as commercial crops and livestock products, and fisheries.

THINK!

  • National Rural Livelihoods Mission (NRLM)
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