“The four projects will support India's efforts to build back better by creating a sustainable and resilient economy,” said Junaid Ahmad, Country Director, World Bank India.

World Bank approves four development projects for India worth over $800 million
Money News Thursday, December 17, 2020 - 12:50

The World Bank Board of Executive Directors on Wednesday approved four India projects worth over $800 million. The projects support a range of developmental initiatives - strengthening India's social protection architecture, promoting nutrition-supportive agriculture for tribal households in Chhattisgarh, enhancing quality education in Nagaland and improving the safety and performance of the existing dams across various states in India.

"The four projects will support India's efforts to build back better by creating a sustainable and resilient economy. Developmental work today has an additional responsibility - to help poor and vulnerable families roll back the adverse impact that the pandemic has had on their lives," said Junaid Ahmad, Country Director, World Bank India.

"These projects will help many such families access better income opportunities, education, water supply and benefit from the expanded social protection schemes of the government," he added.

Among the four approved projects is the $100 million Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG) that will develop sustainable production systems that allow tribal households in remote areas of the state to practice round-the-year production of diversified and nutritious food.

The second project is the $68 million classroom teaching and resources enhancing project in Nagaland. The World Bank is also funding projects aimed at accelerating India's COVID-19 social protection response and dam improvement and rehabilitation project.

Earlier in November, the World Bank had warned that credit and debit cards in its name were being issued in India. In a statement, the World Bank had said: "The World Bank's attention has been drawn to fraudulent issuance of debit/credit cards in India, carrying its name and logo. The World Bank Group does not issue debit/credit cards. The Bank Group has no involvement with individuals/groups who have issued these fake cards, and would like to caution the public to be wary of such fraudulent practices.”

 

Become a TNM Member for just Rs 999!
You can also support us with a one-time payment.