World Bank Approves $188 Million Loan For Maharashtra
The World Bank has approved a USD 188.28-million loan to stimulate economic growth in Maharashtra, especially in the lagging districts, a media release said.
The USD188.28 million Maharashtra Strengthening Institutional Capabilities in districts for enabling growth operation will support district planning and growth strategies, the bank said in a statement.
Investments under the operation will equip districts with the necessary data, funds, and expertise to maximize the value of public money employed for driving growth and job creation.
It will also enhance private sector participation by improving e-government services for businesses in districts, especially in the tourism sector, it said.
“By providing well-articulated investments in institutional capability and coordination at the district level, the program will enhance evidence-based planning and policymaking, efficient public sector interface with the private sector, and improved service delivery to the public – all of which are the fulcrum of broad-based growth, especially in lagging districts,” said Auguste Tano Kouamé, the World Bank’s Country Director for India.
The operation will unlock the value of public data by building a data governance architecture including the Maha Databank for better coordination, integration, analysis, and dissemination of insights into state development. This data can be used to address key development gaps including gender disparities.
“The operation sets up an incentive framework that will trigger annual fiscal rewards to districts that achieve performance targets. The operation will also strengthen the online service delivery portals MAITRI 2.0 (for services to private sector) and the RTS portal (used for all government services) for improving access of the private sector to timely government services,” said Neha Gupta and Thomas Danielewitz, the Task Team Leaders for the project.
The USD 188.28-million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 15 years, including a grace period of 5 years, the media release said.
