Andhra Pradesh   

Loan deal inked with World Bank

By Our Special Correspondent

NEW DELHI, FEB. 13. India and the World Bank today formally signed the agreement for a $ 220-million loan to Andhra Pradesh which would be utilised to support the ongoing reforms programme in the State. The Bank board had approved the loan on February 10.

This is the second Structural Adjustment Loan for Andhra Pradesh and will go to support programmes aimed at restructuring and privatising public enterprises and facilitating reforms in education, health and power. The loan would also help in improving poverty monitoring and pro-poor policy formulation and implementation, implementing structural measures to foster economic growth, improving fiscal consolidation, the composition of spending public expenditure management and financial accountability. Strengthening governance would also be part of the programme which the loan would support.

The first Structural Adjustment Loan of $ 250 millions for the State was approved in 2002.

The Joint Secretary in the Union Finance Ministry, R. Bannerji, the Principal Secretary (Finance), Andhra Pradesh, V.S. Sampath, and the World Bank Country Director for India, Michael F. Carter, signed the agreement.

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