The World Bank has approved 4 India projects worth over $800 million. The projects will support a range of development initiatives that supports the efforts of India to rebuild itself by creating a sustainable and resilient economy.
The projects that have been approved are:
- $400 million Second Accelerating India’s COVID-19 Social Protection Response Program.
- $100 million Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG).
- $68 million Nagaland: Enhancing Classroom Teaching and Resources Project.
- $250 million Second Dam Improvement and Rehabilitation Project (DRIP-2).
$400 Million Second Accelerating India’s COVID-19 Social Protection Response Program:
- The Government of India and the World Bank signed a $400 million Second Accelerating India’s COVID-19 Social Protection Response Program.
- The project supports and protects India’s efforts to provide social assistance to poor and vulnerable households, severely affected by the COVID-19 pandemic.
- It is the 2nd operation in a programmatic series of 2. The 1st operation of $750 million was approved in May 2020. The Program builds on the outcomes achieved by the 1st operation.
- Amount sanctioned: USD 100 million
- CHIRAAG aims at promoting nutrition-supportive agriculture for tribal households in Chhattisgarh
- It will develop sustainable production systems that allow tribal households in remote areas of Chhattisgarh to practice round-the-year production of diversified and nutritious food.
- It will be implemented in the southern tribal-majority region of the state where a large population is undernourished and poor.
- The project will benefit over 180,000 households from about 1,000 villages in eight districts of Chhattisgarh.
Nagaland: Enhancing Classroom Teaching and Resources Project
- Amount approved: USD 68 million
- It will improve classroom instruction; create opportunities for the professional development of teachers, and build technology systems to provide students and teachers with more access to blended and online learning as well as allow better monitoring of policies and programs.
- It will enhance overall quality education in the state
Dam Improvement and Rehabilitation Project (DRIP-2):
- Financial aid approved: USD 250 million.
- DRIP-2 will improve the safety and performance of existing dams across various states of India, and strengthen dam safety by building dam safety guidelines; bring in global experience; and introduce newer technologies.
Important takeaways for all competitive exams:
- World Bank Headquarters: Washington DC, United States.
- World Bank President: David Malpass.
- World Bank Founded: 1944.