New Delhi, June 25 -- The Asian Development Bank (ADB) has approved a USD 42.2 million Small Expenditure Financing Facility (SEFF) to support the development of the bamboo industry in India's northeastern region, with the aim of boosting agricultural productivity, strengthening rural livelihoods and reducing dependence on imports.

In a statement on Thursday, ADB stated that the facility will support community-based projects across six northeastern states -Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura.

The financing will be provided through multiple subloans that will support a range of activities aimed at improving the growth, usage and management of bamboo resources in the region. The project will also focus on promoting wom...