The Hindu Business Line : $225-million World Bank loan for AP

The World Bank has approved a loan of $225 million to Andhra Pradesh to support the State's fiscal, administrative and service delivery reforms. The Board of Executive Directors of the Bank approved the new line of loan/credit.

The Third Andhra Pradesh Economic Reform Loan/Credit is the third in a series of budget support operations. The programme included $150 million of loan from the International Bank for Reconstruction and Development (IBRD) and $75 million credit from the International Development Association (IDA), the Bank's concessionary lending arm.

"It is designed to improve the State's investment climate, strengthen public expenditure and financial management practices, improve service delivery in health, education and power sectors," a World Bank press release said here on Friday.

`Impressive progress'

"The State has made impressive progress in all dimensions of development. Per capita income has risen, poverty has fallen considerably, and 95 per cent of its primary school age children are in school," Mr Fayez Omar, Senior Manager, India Program and Acting World Bank Country Director for India, said.

The new line of loan would ensure continuity of the reform programme and address a number of development challenges, he said.

It would also help the State make the development process more inclusive, especially the poor living in rural areas, the press release said.

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