4 Indian Projects Worth $800mn Approved By World Bank

The World Bank on Wednesday approved four India projects worth over USD 800 million for the development initiatives.

The projects are-

1. Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG)

2. Nagaland: Enhancing Classroom Teaching and Resources Project

3. Second Accelerating India's COVID-19 Social Protection Response Program

4. Second Dam Improvement and Rehabilitation Project (DRIP-2)

 "The four projects will support India's efforts to build back better by creating a sustainable and resilient economy. Development work today has an additional responsibility – to help poor and vulnerable families roll back the adverse impact that the pandemic has had on their lives," said Junaid Ahmad, Country Director, World Bank India. "These projects will help many such families access better income opportunities, education, water supply and benefit from the expanded social protection schemes of the government" he added.

The USD 400 million Second Accelerating India's COVID-19 Social Protection Response Programme project will support India's efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic, PTI reported.

This is the second operation in a programmatic series of two. The first operation of USD 750 million was approved in May 2020. It enabled immediate cash transfers to about 320 million individual bank accounts identified through pre-existing national social protection schemes under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) and additional food rations for about 800 million individuals, the report added.