To enhance crop and soil specific fertiliser systems and improvements to nutrient use efficiency, balanced soil nutrition
The Asian Development Bank (ADB) has signed a $30 million loan with Smartchem Technologies Limited (STL) to finance capital expenditure and research and development of enhanced-efficiency specialty fertilisers as well as investments to promote energy efficiency, health, and safety.
In addition, an accompanying technical assistance grant will focus on improving the climate resilience of up to 4,000 smallholder farmers through building their soil management and financial literacy skills.
“ADB’s financial assistance will help us to further improve our enhanced efficiency specialty fertiliser business including applied R&D and grass-root farmer training initiatives. It is encouraging to have our efforts towards crop and soil specific fertiliser systems and improvements to nutrient use efficiency and balanced soil nutrition, validated by international partners like ADB,” said STL Chairman and Managing Director S C Mehta. “We will continue to strive to deliver our vision of raising the yield and quality of Indian agriculture to the global best. We look forward to growing this partnership with ADB.”
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
