World Bank to give $944 mn loan to India
The World Bank on Friday agreed to sanction a loan of 944 million dollars to India for strengthening rural finance system, vocational training programmes and community-based water management projects.
By PTI |
NEW DELHI: The World Bank on Friday agreed to sanction a loan of 944 million dollars to India for strengthening rural finance system, vocational training programmes and community-based water management projects.
According to an agreement signed here, the multi-lateral agency would give 600 million dollars toward boosting rural cooperative credit projects, 280 million dollars for supporting 400 ITIs over four years and 64 million dollars for Karnataka-based water tank management projects.
"The three projects, signed today, reflect Government of India's priority in rejuvenating the rural economy," Finance Minister P Chidambaram said on the occasion.
The agreement was inked by Finance Ministry joint secretary Madhusudan Prasad and World Bank country director Isabel Guerrero. World Bank President Robert B Zoellick, who is on a three-day visit to India, was also present on the occasion.
According to an agreement signed here, the multi-lateral agency would give 600 million dollars toward boosting rural cooperative credit projects, 280 million dollars for supporting 400 ITIs over four years and 64 million dollars for Karnataka-based water tank management projects.
"The three projects, signed today, reflect Government of India's priority in rejuvenating the rural economy," Finance Minister P Chidambaram said on the occasion.
The agreement was inked by Finance Ministry joint secretary Madhusudan Prasad and World Bank country director Isabel Guerrero. World Bank President Robert B Zoellick, who is on a three-day visit to India, was also present on the occasion.
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