WB mulls $1 bn loan to Andhra Pradesh for 6 projects
The World Bank is considering loan assistance to six projects in Andhra Pradesh with financial commitment of $1 billion over next four years, a major chunk of it meant for irrigation sector.
By PTI |
HYDERABAD: The World Bank is considering loan assistance to six projects in Andhra Pradesh with financial commitment of $1 billion over next four years, a major chunk of it meant for irrigation sector.
Disclosing this at a press conference here today, the World Bank Managing Director Graeme Wheeler said the proposed funding would cover a wide variety of areas, including rural poverty alleviation, education, health and irrigation.
The largest among the projects in the pipeline would be in irrigation sector with USD 500 million funding, he said.
"If everything goes well, the projects will commence within a year," Wheeler said, wrapping up a day long visit to the state during which he interacted with representatives of women self-help groups at Ibrahimpalli in the neighbouring Ranga Reddy district and reviewed implementation of poverty alleviation programmes.
The Bank was also processing the third AP Economic Reform Loan, which was expected to be presented to the lender's Board of Executive Directors in January.
ADVERTISEMENT
Apart from these state-specific projects, AP would also benefit from the national-level schemes being funded by the Bank, the Managing Director said.Denying that World Bank was imposing conditionality’s while extending loans, Wheeler said, "It is not for us to tell countries what sort of policies they should adopt. We do not dictate policy prescriptions but work in close association with the governments and their organisations to reduce poverty."
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
