The National Bank for Agriculture and Rural Development (NABARD) and the Asian Development Bank (ADB) have collaborated to support climate action in India’s agriculture, natural resources, and rural development sector.
They have established a Technical Support Unit (TSU) in NABARD, in partnership with the Bill and Melinda Gates Foundation (BMGF), to help overcome the challenges brought about by climate change, specifically in the fields of agriculture and rural livelihoods in India.
During the launch event, Shri Shaji K V, Chairman of NABARD, emphasized the need to improve climate resilience as a significant portion of assets in the Indian banking sector are vulnerable to climate risks. He also stated that NABARD is dedicated to assisting rural financial institutions in India in identifying and mitigating climate risks, as well as attracting global climate capital to the country’s agricultural and rural development sector.
During the launch event, NABARD expressed its commitment to achieving climate neutrality in its own operations. Mio Oka and Srivalli Krishnan from ADB and BMGF respectively were also in attendance.
Intellecap Advisory Services Private Limited has been chosen to oversee the management of the Technical Support Unit. Intellecap has a track record of effectively managing large-scale programs in agriculture and related sectors, with a focus on climate adaptation and mitigation. NABARD is inviting ecosystem partners to join them in their efforts to create a more sustainable planet.
This is a PR Agency Feed; fake checked and edited by Clean-Future Team