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World Bank loan for Madhya Pradesh

World Bank loan for Madhya Pradesh

India Blooms News Service | | 17 Mar 2016, 03:49 pm
New Delhi, Mar 17 (IBNS) India signed a loan agreement of USD 35 Million with the World Bank on Thursday, which will be used for the Madhya Pradesh Citizen Access to Responsive Services Project.
Raj Kumar, Joint Secretary (MI), Department of Economic Affairs, Ministry of Finance signed the document on behalf of the Government of India and Onno Ruhl, Country Director, World Bank (India) signed on behalf of the World Bank
 
The Implementing Entity Agreement was signed by M. Selvendran, ED (State Agency for Public Services), Department of Public Services management, MP on behalf of the Government of Madhya Pradesh, and Onno Ruhl, Country Director (India) on behalf of the World Bank. 
 
The project size is USD 50 million, of which USD 35 million will be financed by the Bank, and the remaining amount will be funded out of the state budget. The project duration is 5 years. 
 
According to the finance ministry, the objective of the project is to improve access and quality of public services in Madhya Pradesh through implementation of the 2010 Public Service Delivery Guarantee Act.  
 
The project has been designed as a result-based financing programme, under which funds will be released on achievement of agreed results.