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You are here » Home Page » News » World Bank to fund $162.7 mln for rural development in India

World Bank to fund $162.7 mln for rural development in India

2011-10-10 source own

New Delhi: Government of India and World Bank signed a $162.7 million International Development Association (IDA) agreement to fund 400,000 village households in 17 districts of western Indian state of Rajasthan, said a press release issued by the Indian Ministry of Finance.    

The fund will be provided under the Rajasthan rural livelihoods project. The main aim of the project is to increase the income level of rural communities. The project will channel funds for income-generating activities through some 33,000 self-help group (SHG); which will also support unemployed youth to develop skills and get better opportunities.

As per the census 2002 there are above 2 million poor families in Rajasthan. The financial assistance provided by the World Bank will cater to the need of the poor population in the Rajasthan, which has 35 years to maturity period and a 10-year grace period.

Currently, the World Bank is funding two state-specific projects in irrigation & water resources and health systems development, which together comprising around $253 million in the Rajasthan. In addition, the state holds a major share in the multi-state rural roads project, of which Rajasthan's share is around $229 million. World bank's total commitment in Rajasthan at $482 million which is nearly 2% of the total net commitments across the country. 

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