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India signs pacts with WB for IDA credit for Kerala, Orissa

India has signed two agreements with the World Bank for an International Development Association credit of Singapore $ 85.6 million (US$ 115.4 million) in New Delhi today.

The first agreement between the World Bank and Indian government for an IDA credit of S$ 28.8 million ($39 million) was signed by Union additional secretary (fund bank) V Govindarajan, World Bank's India director Edwin Lim and Kerala forests and wildlife department's principal secretary Lizzie Jacob to help finance the Kerala forestry project.

The project was negotiated with the World Bank during January 27 to 31, 1998 and approved by the bank's board of executive directors on March 24, 1998.

The project will be implemented over a period of four years and aims to assist government of Kerala in arresting the retrograde trend in forest cover development and improving forest productivity in an environmentally and socially sustainable manner, as a first phase of long-term support to the forest sector in Kerala.

The second agreement between the World Bank and government of India for an IDA credit of Singapore $ 56.8 million ($76.4 million) equivalent was signed by Govindarajan, Lim and Orissa's principal resident commissioner in New Delhi Sanujit Ghosh to help finance the Orissa State Health Systems Development Project.

The project was negotiated with World Bank during April 16 to 22, 1998 and approved by the World Bank board of executive directors on June 29, 1998. The project will be implemented over a period of six years and aims to make the health system more efficient and effective and improve access to selected basic health services with special emphasis on women, children, tribal people, and other disadvantaged groups, and those living in remote and underdeveloped areas.

UNI