Islamabad: The Asian Development Bank (ADB) has announced a grant of USD 2.5 million, which is aimed at enhancing the productivity of the agricultural sector in Punjab, according to news sources. As per the publication, the funding is intended for the provision of technical assistance in order to fast track the adoption of advanced technologies that can help the local agrarian economy grow in the future.
According to the ADB report, this grant will facilitate local farmers by providing them access to the latest farming technologies (harvest, post-harvest and marketing). In addition, it will help solidify agriculture value chains in rural Punjab, improve food security, sustain agricultural growth in the province, and enhance the overall quality of life in rural communities.
Reportedly, it was the Punjab Agriculture Department that originally requested assistance from ADB to enhance the sector. While the bank has agreed to provide the finances, its agriculture, environment and natural resources divisions, of its Central and West Asia Departments, will also help administer the programme. They will be provided additional technical assistance by the Japan Fund for Poverty Reduction, who have also co-financed the entire project. This includes knowledge and technical support on the basmati rice (a premium export commodity) value chain, which will help streamline the production practices of small farmers.
The report issued by ADB claims that the grant aims to achieve four major results: demonstration of modern harvest/post-harvest technologies conducted, increased stakeholders’ capacity of developing and adopting technologies, Information and Communications Technology (ICT) -based marketing platform developed and implemented, and the creation of investment opportunities to upscale the technological adoption.
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