Orissa seeks Rs 1,250cr World Bank loan under OSEP

BS Reporter / Bhubaneswar

November 06, 2008

The Orissa government has sought Rs 1,250 crore ($250 million) loan from the World Bank under the third tranche of the Orissa Socio Economic Development Programme (OSEP).

It has already sent the proposal for loan assistance to the Government of India (GoI) to be forwarded to the World Bank for approval.

This was communicated to the visiting four member World Bank team by the state government today. During the discussion with the World bank team, the state government apprised them of various steps taken by it relating to anti-corruption measures, introduction of e-procurement system and financial management.

Talking to the media after discussion with the senior state government officials at the secretariat, VJ Ravishankar, lead economist, South Asia Poverty Reduction and Economics Management of World Bank said, the state government has sought a loan of $250 million from the World Bank under the third tranche OSEP.

The Bank will consider the request for loan after the GoI sends a letter in this matter, he added. The Orissa government availed $125 million in the first tranche and $225 million in the second tranche of OSEP.

Ernesto May, sector director, poverty reduction, economic management, finance and private sector development of the World Bank, South Asia region, said, the overall performance of the state government has been very satisfactory. The World Bank team will work together with the Orissa government to assess the overall situation, he added.

The team members later had a look at the Orissa Treasury Management System and computerisation of accounting system in the Controller of Accounts office.


Published in: on November 6, 2008 at 9:17 pm  Comments Off on Orissa seeks Rs 1,250cr World Bank loan under OSEP  
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