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Our Bureau

New Delhi, Aug. 10 India has signed a $63 million IDA credit agreement with the World Bank for the Bihar Rural Livelihoods Project.

The International Development Association (IDA), the World Bank’s concessionary lending arm, is providing this credit with 35 years to maturity and also a 10-year grace period.

An official release said that the Bihar Rural Livelihoods Project, named ‘Jeevika’, aims to improve rural livelihoods in Bihar and is expected to directly benefit about 2.9 million people belonging to 5,90,000 households.

The agreement was signed by Mr Madhusudan Prasad, Joint Secretary, Ministry of Finance, on behalf of the Indian Government, Mr Navin Kumar, Principal Secretary, Department of Finance on behalf of the Bihar Government, and Ms Isabel Guerrero, Country Director, India on behalf of the World Bank.

The project would help organise women from poor and disadvantaged households into vibrant and self managed institutions of the poor.

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