The Hindu : Tamil Nadu / Chennai News : "State has enduring relationship with World Bank"

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Saturday, Sep 23, 2006
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Tamil Nadu

Tamil Nadu - Chennai

"State has enduring relationship with World Bank"

Special Correspondent

Karunanidhi inaugurates bank office in Chennai

INAUGURATION: Chief Minister M. Karunanidhi leaving after inaugurating the new World Bank office in Chennai on Friday. — Photo: M. Vedhan

CHENNAI: Tamil Nadu has an enduring relationship with the World Bank, which made significant contributions to urban development, water supply, infrastructure, and irrigation projects in the State, Chief Minister M. Karunanidhi said on Friday.

He was inaugurating the World Bank's largest office outside Washington in Chennai. The building will house the World Bank's growing financial and technical support services.

Mr. Karunanidhi said five World Bank-funded projects, worth Rs.7,211 crore, covering highways, health, urban development, rural prosperity and tsunami relief were being implemented in the State.

The State had a proud record of successfully implementing World Bank projects. It was during his previous tenure as Chief Minister that the Bank decided to set up the office. Now many high value-added activities were based in Chennai. The United Nations Secretary General had mentioned the office as an encouraging example for the United Nations to emulate. This was a matter of pride for India, especially Tamil Nadu. Mr. Karunanidhi said he was confident that the warm relationship between the Bank and the State would grow from strength to strength.

Chief Financial Officer of the Bank Vincenzo La Via said the main objective of the Chennai office was to improve the effectiveness of the Bank's financial processes. It would make the Bank an efficient provider of development assistance to the poor.

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