National

World Bank aid for Gujarat, Karnataka

By Our Special Correspondent

NEW DELHI JUNE 4. India and the World Bank today signed two agreements for a total assistance of $ 542 million for two projects in Gujarat and Karnataka.

The loan would come from the International Development Agency (IDA) and would be without any interest obligation for a period of 35 years, with an annual commitment charge of 0.75 per cent.

Of the $ 542 million, the Gujarat emergency earthquake reconstruction programme (phase two) would get $ 442.80 million and the Karnataka community-based tank management project $ 98.90 million.

The Gujarat package will help in the reconstruction of houses in rural and urban areas, repair and strengthening of damaged public buildings, roads, bridges, dams and irrigation infrastructure and reinforcement of undamaged Government buildings and important public buildings such as schools, hospitals and fire stations in the earthquake zones.

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