The state government on Wednesday gave its nod for the ambitious Maharashtra Agribusiness Network (MagNet) project, which will see the state government collaborating with the Asian Development Bank. The Rs 1,000-crore project, which is aimed mainly at fruit and vegetable producers, aims to improve processing and minimise the losses in the sector of perishables.
Lack of proper handling and storage sees wastage of nearly 30-35 per cent of the fruits and vegetables produced in the state. The official press release issued by the Maharashtra State Agricultural Marketing Board stated that the project will be aimed at this sector and incentives will be given mainly to small and marginal farmers.
The project will be implemented in all the districts of the state and sanction has been given to implement it in the next six years.The project amount is estimated to be $142.9 million, of which 70 per cent funds will be given by the Asian Development Bank in the form of a loan, and the rest 30 per cent funds will come from the state government as own contribution.
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