Asian Development Bank has agreed to give Bihar a loan of $67.6 million (Rs 338 crore) to provide its farmers with hi-tech markets.

Officials on Wednesday said the deal was signed in New Delhi on Monday and it would take three to four months for the funds to reach the state. The Asian Development Bank and the Union government has agreed to implement the Agri-Business Infrastructure Development Investment Programme. The latest agreement is the extension of the programme.

A source said: “Private, cooperative, combined and government markets will be promoted keeping in mind the state’s agriculture roadmap and with an aim to establish hi-tech and well-equipped agriculture markets.”

The source added: “The private investors will create markets on their own land and the government will give them subsidies. Besides, the private investors coming up with proposal of minimum government help will get a priority.”

As part of the Agri Business Infrastructure Development Investment Programme, the private investors will develop two integrated value chains. The chains will facilitate activities from procuring raw materials to packaging.

The chains will have pack house, fruit pulping unit, cold chain, trading platform, warehouse, potato and onion storage units and ripening chamber among other facilities. An integrated value chain will cover Muzaffarpur, Vaishali, Darbhanga, Samastipur and Begusarai districts and the other will include Nalanda, Patna, Gaya Bhojpur, Buxar and Rohtas.

This will be done to set up 11 hi-tech agriculture markets by the private investors.