World Bank approves USD 188 million loan to Indian state to stimulate growth in backward districts

Washington, Dec 5: The World Bank has approved a USD 188.28-million loan to stimulate economic growth in the Indian state of Maharashtra, especially in the lagging districts, a media release said.

The USD188.28 million Maharashtra Strengthening Institutional Capabilities in districts for enabling growth operation will support district planning and growth strategies, the bank said in a statement.

Investments under the operation will equip districts with the necessary data, funds, and expertise to maximize the value of public money employed for driving growth and job creation.

It will also enhance private sector participation by improving e-government services for businesses in districts, especially in the tourism sector, it said.

“By providing well-articulated investments in institutional capability and coordination at the district level, the program will enhance evidence-based planning and policymaking, efficient public sector interface with the private sector, and improved service delivery to the public – all of which are the fulcrum of broad-based growth, especially in lagging districts,” said Auguste Tano Kouamé, the World Bank’s Country Director for India.

The operation will unlock the value of public data by building a data governance architecture including the Maha Databank for better coordination, integration, analysis, and dissemination of insights into state development. This data can be used to address key development gaps including gender disparities.

“The operation sets up an incentive framework that will trigger annual fiscal rewards to districts that achieve performance targets. The operation will also strengthen the online service delivery portals MAITRI 2.0 (for services to private sector) and the RTS portal (used for all government services) for improving access of the private sector to timely government services,” said Neha Gupta and Thomas Danielewitz, the Task Team Leaders for the project.

The USD 188.28-million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 15 years, including a grace period of 5 years, the media release said. (PTI)

Hot this week

Pay hike of Assam ministers, MLAs likely as 3-member panel submits report

Full report likely by Oct 30 Guwahati Sept 25: There...

Meghalaya Biological Park Inaugurated After 25 Years: A New Chapter in Conservation and Education

Shillong, Nov 28: Though it took nearly 25 years...

ANSAM rejects Kuki’s separate administration demand, says bifurcation not acceptable

Guwahati, Sept 8: Rejecting the separate administration demand of...

Meghalaya man missing in Bangkok

Shillong, Jan 10: A 57-year-old Meghalaya resident, Mr. Treactchell...

Meghalaya’s historic fiber paves the way for eco-friendly products and sustainable livelihoods

By Roopak Goswami Shillong, Oct 25: From making earbuds to...

Heavy rains, cloudbursts hit Uttarakhand; several people trapped, houses damaged

Dehradun, Aug 29: Heavy rains and cloudbursts wreaked havoc...

Kabul blames Pakistan for airstrikes that killed 3 people in eastern Afghanistan

Islamabad, Aug 29: Airstrikes that Afghanistan's Taliban government blamed...

Tamil actors Vishal, Sai Dhanshika get engaged

Chennai, Aug 29: Popular Tamil actor Vishal on Thursday...

India has turned into ‘oil money laundromat for Kremlin’: Trump aide

New York/Washington, Aug 29: A day after claiming that...

Conrad reviews progress on medical colleges, sports and JJM in Tura review

State to produce 550 doctors annually by 2030s Tura, Aug...

Lyles beats Olympic champion Tebogo in 200 race at Diamond League final

Zurich, Aug 29: Noah Lyles warmed up for the...
spot_img

Related Articles

Popular Categories