On December 15, 2020 the World Bank has approved 4 India projects worth over $800 million. The projects will support a range of development initiatives that supports the efforts of India to rebuild itself by creating sustainable and resilient economy
4 Projects Include:
- $400 million Second Accelerating India’s COVID-19 Social Protection Response Program
- $100 million Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG)
- $68 million Nagaland: Enhancing Classroom Teaching and Resources Project
- $250 million Second Dam Improvement and Rehabilitation Project (DRIP-2)
$400 Million Second Accelerating India’s COVID-19 Social Protection Response Program
The Government of India and the World Bank signed a $400 million Second Accelerating India’s COVID-19 Social Protection Response Program. The project supports and protects India’s efforts to provide social assistance to poor and vulnerable households, severely affected by the COVID-19 pandemic.
- It is the 2nd operation in a programmatic series of 2. The 1st operation of $750 million was approved in May 2020.
- The Program builds on the outcomes achieved by the 1st operation.
Points to be Noted
i.This loan is funded by the International Development Association (IDA).
ii.ADB in collaboration with Agence Française de Développement (AFD) and Kreditanstalt Fur Wiederaufbau (KfW) prepared the program.
iii.The project will be implemented by the Department of Economic Affairs of the Ministry of Finance.
Key People
The agreement was signed by C S Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of Indian govt and Sumila Gulyani, Acting Country Director, India on behalf of the World Bank.
$100 million Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG)
The World Bank approved a $100 million Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG). It will develop sustainable production systems, this will allow Chhattisgarh’s tribal households in remote areas to practice production of diversified and nutritious food throughout the year.
Funding
The loan will be provided by the International Bank for Reconstruction and Development (IBRD). It has a maturity of 17.5 years, including a grace period of 5.5-years.
Implementation & Benefit
The project will be implemented in the southern tribal-majority region of the state where a large population is undernourished and poor.
It will benefit more than 180,000 households from about 1,000 villages in 8 districts of the state.
$68 million Nagaland: Enhancing Classroom Teaching and Resources Project
The World Bank has approved a $68 million Nagaland: Enhancing Classroom Teaching and Resources Project. It enhances the classroom teaching and the accessibility of resources to teach in Nagaland.
Funding Structure
The loan will be provided by IBRD. It has a final maturity of 14.5 years including a grace period of 5 years.
Points to be Noted
As part of that strategy, about 14 out of 44 higher secondary schools of Nagaland will be developed into school complexes. This is to operationalize the learning environment(envisioned) during the project period.
Benefit
The reforms in schools across the state will benefit about 150,000 students and 20,000 teachers in the government education system.
$250 million Second Dam Rehabilitation and Improvement Project (DRIP-2)
The World bank has approved a $250 million Second Dam Rehabilitation and Improvement Project (DRIP-2). It will improve the existing dams’ safety and performance across various states of India.
The project will be implemented in approximately 120 dams across the states of Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Rajasthan, and Tamil Nadu, and at the national level through the Central Water Commission (CWC). Other states or agencies may also be added to the project during project implementation.
Funding Structure
The loan will be provided by IBRD. It has a maturity of 13 years, including a grace period of 6 years.
Key Info about World Bank:
The World Bank Group consists of five organizations, namely:
The International Bank for Reconstruction and Development (IBRD), The International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), The International Centre for Settlement of Investment Disputes (ICSID).
Recent Related News:
i.On November 19, 2020 The Government of India, the Government of Meghalaya and the World Bank(WB) signed a $120-million(~INR 890 Crore) Meghalaya Integrated Transport Project(MITP) to improve and modernize the transport sector of Meghalaya.
ii.World Bank sanctions Rs 3 crore(approximately) for Goa to develop India’s first sand dune parks as the World Bank (WB) has approved a proposal drafted by the Goa state biodiversity board for the same.
About World Bank:
HeadQuarters– Washington, DC, New York, United States(US)
President – David Malpass
Founded– 1944
Member Countries– 189(including India)
