New Delhi, India (BBN)- The World Bank (WB) will provide a total of US$ 297 million to India for implementation of two rural projects in Madhya Pradesh and Uttar Pradesh of the South Asian country.
Two agreements relating to the ‘Second Madhya Pradesh District Poverty Initiatives Project’ and ‘Uttar Pradesh Sodic Lands Reclamation III Project’ were signed in the capital, New Delhi on Monday between the WB, the Indian government and the state governments of Madhya Pradesh and Uttar Pradesh respectively.
Two projects are expected to be completed by December 31, 2014 and December 31, 2015 respectively, a finance ministry press statement.
The ‘Second Madhya Pradesh District Poverty Initiatives Project’ was signed for an International Development Association (IDA) credit amounting to US$ 100 million. The development objective of this project would be to improve the capacity and opportunities for the targeted rural poor to achieve sustainable livelihoods.
The ‘Uttar Pradesh Sodic Lands Reclamation III Project’ was signed for credit amounting to $ 197 million. The development objective of this project is to increase agricultural productivity of degraded lands in selected areas of Uttar Pradesh.
BBN/SS/SI/AD-21 July09-3:50 am (BST)