WB lends US$21.7M for Rajasthan Project
Funding to help improve budget execution
India has signed a loan agreement with the World Bank for US$21.7 million for Strengthening the Public Financial Management in Rajasthan.
The funding for a project to build an improved Budget execution, enhanced accountability and greater efficiency in Revenue Administration in Rajasthan.
The Project involves Strengthening of the Public Financial Management Framework; Strengthening of Expenditure and Revenue Systems; and Project Management and Capacity Building among others.
The agreement was signed in New Delhi on 29 May 2018 by Sameer Kumar Khare, Joint Secretary at the Department of Economic Affairs, and Hisham Abdo, Acting Country Director, World Bank (India).
The Project is approximately US$31 million, of which US$21.7 million will be financed by the World Bank, and the remaining amount will be funded-out of the State Budget. The Project duration is five years. fii-news.com