The Union Cabinet approved a $1.5 billion (about Rs 9,000 crore) offer of World Bank support for the Swachh Bharat Mission (SBM) in rural areas.
“The project basically provides for incentivising states on the basis of their performance in the existing SBM-Gramin. Incentivisation of states was approved by the Cabinet while approving the SBM-Gramin on September 24, 2014,”as per the minister of communications and information technology Ravi Shankar Prasad after a cabinet meeting in Delhi.
The approval provides for a mechanism of incentivisation through World Bank credit, communications minister Ravi Shankar Prasad said after the meeting here. States’ performance will be gauged through performance indicators.
- The World Bank is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group, which is part of the United Nations system.
- The World Bank’s official goal is the reduction of poverty. However, according to its Articles of Agreement, all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of Capital investment.
- Headquarter Washington – D.C., United States
- World Bank Group President – Jim Yong Kim
- Minister of Communications and Information Technology – Ravi Shankar Prasad
So lets do:
- Where is the headquater of World Bank?
- Who is the President of World Bank?
- Who is the Minister of Communications and Information Technology?
Source – The Hindu