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$318m World Bank loan for Tamil Nadu irrigation scheme

The Indian government along with the Tamil Nadu government has signed an agreement with the World Bank for a $318 million loan for the improvement of irrigation in Tamil Nadu. 

The loan also includes improvement market opportunities for Tamil Nadu. 

"About 500,000 farmers, of which a majority are small and marginal, are expected to benefit from improved and modernised tank irrigation systems," India's finance ministry statement said, the Economic Times reported. 

"This project will help Tamil Nadu scale up its efforts to unlock the full potential of its agriculture sector. It will support farmers improve efficiency of water used in farming, diversify into high value crops and produce crops that are resilient to increasing threats of climate change," the World Bank's acting country director, John Blomquist said. 

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