World Bank group financing US$ 500 million projects in Northeast

GUWAHATI: World Bank on Thursday said that projects worth Rs US$ 500 million are in pipeline in Northeast India. These projects encompass different sectors including healthcare, e-governance, infrastructure, water management and inland waterways.

World Bank credit portfolio in the Northeast India in last five years stood at $ 640 million. Onno Ruhl, Country Director, India, World Bank who was in Guwahati on Thursday said, "We are have having discussions on financing agri-business, e-goverance project, water and basin management, inland waterways, urban development for smaller towns."

He added that power transmission project for Northeast India is on the pipeline. "There is a healthcare delivery project in Nagaland worth $50 million. The World Bank funded Assam Agricultural Competitiveness project is about to be completed and a project of agri business is in the pipeline.

"The e-governance project for Assam and Meghalaya is yet to be cleared by the Department of Economic Affairs, Government of India."

He said that recently the World Bank Board of Executive Director’s have approved a $107 million credit for the Mizoram State Roads II – Regional Transport Connectivity Project to improve transport connectivity for the landlocked state of Mizoram and to help open up the potential for regional trade among neighboring countries.

The project will enhance Mizoram and other northeastern states' road links with Bangladesh, as well as with Nepal, Bhutan and Myanmar.

Twelve innovative social enterprises were awarded grants totaling $1.4 million by the India Development Marketplace (DM) funded by the World Bank Group.

Nine organizations received $150,000 each for project implementation over 24 months and an additional three organizations were selected to receive $25,000 each in capacity building funding to provide innovative service delivery solutions in the Northeastern states of Assam, Mizoram, and Meghalaya.

Since 2011, the Development Marketplace has granted more than $3 million to 34 projects in six states in India.