“This will give boost to fruits and vegetables production and benefit to farmers in the Maharashtra. In view of growing demand of fruits and vegetables in coming years in the state and considering losses of fruits and vegetables at different stages, the MagNet project incentives will be given to small and marginal farmers,” the Maharashtra State Agricultural Produce Marketing Committee said in a statement.
The project is worth $142.9 million, or about Rs 1,000 crore, of which 70% would be lent by Asian Development Bank and the balance will come from state government.
The state government has authorised bureaucrats to finalise the repayment period of the loan during negotiations for the loan.
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