The Hindu : India signs three WB loan agreements

Online edition of India's National Newspaper
Sunday, Mar 17, 2002

National

National

India signs three WB loan agreements

By Our Special Correspondent

NEW DELHI, March 16. India today signed three loan agreements with the World Bank for $ 490 millions.

These include the Andhra Pradesh Economic Reform and Karnataka Economic Reform projects as well as the Rajasthan water sector restructuring scheme.

A Finance Ministry release, which outlines the details of the agreements, does not mention, however, the controversial portion of the Andhra Pradesh project.

The £ 65 millions grant from the U.K. Government included as part of the project by the World Bank in its statement issued on Friday.

The Andhra Pradesh project includes an IBRD component of $ 125 millions and an IDA credit of $ 125 millions.bringing the total to $ 250 millions.

The loan and credit agreements for Andhra Pradesh and Karnataka were signed by S.C. Garg, Director, Department of Economic Affairs on behalf of the Indian Government and Sanjay Pradhan, sector manager of the World Bank. P. V. Rao, Chief Secretary, Andhra Pradesh, and Chiranjeev Singh, Principal Secretary, Karnataka, signed the project agreement on behalf of their States. The credit agreement for the Rajasthan project was signed by Dharmendra Sharma, Deputy Secretary, Department of Economic Affairs on behalf of the Indian Government Anil Vaish, Principal Secretary Irrigation, on behalf of Rajasthan.

Send this article to Friends by E-Mail

National