MUMBAI, 21 December 2023: In a major win for India's climate resilience, the National Bank for Agriculture and Rural Development (NABARD) and the Asian Development Bank (ADB) have joined forces to safeguard the country's agriculture, natural resources, and rural development sectors.
This crucial collaboration establishes a dedicated Technical Support Unit (TSU) within NABARD, tasked with spearheading initiatives that adapt and mitigate climate risks affecting farmers and rural communities.
"With over half of India's banking assets vulnerable to climate change, enhancing resilience is no longer optional," declared NABARD Chairman Shaji K V. "Through this partnership, we not only aim to strengthen rural financial institutions' ability to tackle climate risks but also channel global climate capital into vital sectors like sustainable agriculture and infrastructure."
The TSU, managed by Intellecap Advisory Services, will focus on areas like developing climate-resilient farming practices, building early warning systems, and promoting access to climate-smart technologies. This crucial support will empower farmers to adapt to changing weather patterns, protect their livelihoods, and ensure long-term food security for India.
NABARD extends a warm invitation to all ecosystem partners – researchers, NGOs, private companies, and fellow institutions – to join hands in this critical endeavor. Together, we can build a more resilient and sustainable future for Indian agriculture and rural communities.
