New Delhi: World Bank has agreed to provide an assistance of USD 7.98 million to the Uttarakhand Decentralised Watershed Development Project saying it would accelerate the developmental work.

Venu Rajamony, Joint Secretary (Multilateral Institutions) in Finance ministry's Department of Economic Affairs and M H Khan, Secretary, Watershed, of the Uttarakhand Government signed the agreement with the World Bank.

According to the state government, the assistance would be used for supporting ongoing activities like helping farmers set up small agri-businesses.

If the same attitude continues, the state’s domestic income would touch a growth rate of 10 per cent at the end of this plan.

However, Uttarakhand is currently implementing two state projects amounting to USD 203 million.

JPN/ Bureau