Govt signs $64 million pact with World Bank on industrial pollution

NEW DELHI: The government signed a $64.15 million loan and financing agreement with the World Bank for capacity building under a project on managing industrial pollution in the country.

While $25.21 million of the project costs will be met through a loan from the International Bank for Reconstruction and Development ( IBRD) -- one of the World Bank institutions -- the remaining $38.94 million would be in form of international development assistance (IDA) credit.

The 'Industrial Pollution Management Project' is expected to be completed by September 30, 2015, the government said in a statement. It said the project aims to "build tangible human and technical capacity in selected state pollution control agencies for undertaking environmentally sound remediation of polluted sites."

The five-year project also aims to establish a national programme for rehabilitation of polluted sites and develop a
policy framework for it.