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Patna: The International Finance Corpn (IFC), a member of the World Bank Group and the World Bank, has made a partnership with Bihar state to improve agri-business competitiveness in the state.
Any kind of “Agri-business Competitiveness Partnership” will make easy collaboration between the public and private sectors to formulate policies, laws, and regulations to make local agri-business more competitive.
K P Saha, Bihar’s principal secretary for agriculture, stated, “The Poultry and Maize Task Force will be the first to be instituted as part of this initiative to develop consensus between private entrepreneurs, farmers and other stakeholders on reform-related issues and address concerns with a view to boosting investment in the sector.”
As per an IFC statement, the partnership will initiate a discussion among government agencies, private-sector players, trade bodies, multilateral institutions and other important stakeholders to resolve barriers to investments in agri-business, improve competitiveness and unlock the sector’s investment potential.
A Sinha, general manager, advisory services, IFC, said, “The opportunities are many but the challenge for the state is to attract private investment in the short term amid the global slowdown and the risk perceptions.”
Further, IFC also pointed out that this platform was being instituted by the Bihar government on the basis of recommendations that came out of an IFC study on the sugar and maize sectors in the state last year.
G Schonleitner, senior investment policy officer, World Bank, added, “The partnership is a mechanism to drive coordinated actions between the government and the private sector towards implementing the vision for the sugar and maize value chains outlined in the study and is intended to be a long-term participatory forum for policy dialogue.”
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Posted On : 04 Jul 09
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