Monday, April 15, 2013

World Bank scheme to benefit seven low-income States

To reduce poverty and increasing prosperity world bank will lend to the 7 poorest state’s in India.

Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh will be benefited by the world bank programme.

It is a part of country Partnership Strategy (CPS) for India (2013-17), which proposes a lending programme of $3 billion-5 billion every year over the next four years

The Bank’s objective is to bring down poverty levels in the seven low-income States to just 5.5 per cent in 2030 from 29.8 per cent in 2010.

60 per cent of the financing will go to State government-backed projects and 30 per cent will go to low-income or special category States where public services face high delivery costs.

Under the Bank’s previous support strategy plan, 18 per cent of its lending went to these States.

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