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Food parks to get Rs 3,000 crore World Bank support

Food parks to get Rs 3,000 crore World Bank support

Union Minister of State for Food Processing Industries Rameswar Teli has said, the World Bank will provide three thousand crore rupees assistance to finance, mini and mega food parks across the country. This will help boost farmers’ income. He was addressing the 15th Indo-US Economic Summit organized by the Indo-American Chamber of Commerce-North India Council (IACC-NIC) in New Delhi on Friday.

In a statement, IACC-NIC quoted the Minister as saying that minor formalities remain to be completed on this front before the first disbursement of the sanctioned amount is released. The minister urged India Inc to come forward and take advantage of the policies of the government to set up food processing units in the country in which the element of subsidies go to an extent of 75 percent.

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