WB sanctions 743.68 mn for India

The World Bank Executive Board cleared a loan worth 150 million for the Uttar Pradesh restructuring project which will support the initiation of the power sector reform process through the establishment of a new legal, regulatory and institutional framework, the creation of new power corporations and framing of guidelines for privatisation of the distribution business.

It has also cleared the Uttar Pradesh fiscal reform and public sector restructuring project with an IDA credit of 125 million equivalent and 126.3 million of World Bank loan.

The project will assist Uttar Pradesh in implementing comprehensive reforms in public expenditure management, tax policy, civil service, anti-corruption, deregulation, decentralisation in local bodies, public enterprise, privatisation, financial management and accountability.

An IDA credit worth 110 million has also been sanctioned for the Uttar Pradesh state health systems development project. The project will help establish an effective and sustainable health system in Uttar Pradesh.

About 11 million people will receive outpatient treatment per year and 600,000 inpatients are likely to benefit through improved health services.

It has also sanctioned an equivalent of 131.90 million for an immunisation strengthening project.

The state of Rajasthan too would receive 100.48 million from IDA for a district poverty initiatives project which seeks to promote the formation and strengthening of common interest groups and village development associations in the state.