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K`taka gets $372 mn World Bank fund

The World Bank has approved credit worth USD 372 million for two projects related to coastal zone management and water supply and sanitation in Karnataka.



New Delhi: The World Bank has approved
credit worth USD 372 million for two projects related to
coastal zone management and water supply and sanitation in
Karnataka.

While USD 222 million will be provided for the Integrated
Coastal Zone Management Project, USD 150 million would go to
the ongoing Karnataka Rural Water Supply and Sanitation
(KRWSS) Project, the World Bank said in a statement today.

The loans would be provided by the International
Development Association (IDA), a World Bank body that lends on
concessional terms. IDA credits are interest-free and have
long repayment schedule stretching to 35-40 years, including a
10-year grace period.

The first project aims at building institutional
arrangements, capacity and advanced knowledge systems for the
implementation of nation-wide coastal zone programme.

"This project will also help pilot this approach in three
coastal states of Gujarat, Orissa and West Bengal, through a
range of complementary local pilot investments in select
coastal stretches to support state-level capacity building,"
the statement said.

The investments would go in mangrove plantation, cleaning
up of beaches, regeneration of coral reefs and activities
aimed at enhancing livelihoods of coastal communities.

As for the water supply project, the credit will help
scale up the ongoing, second KRWSS to cover 1,650 villages and
helping 4 million people get access to "efficient and reliable
water supply", it said. KRWSS is part of long-term programme
of World Bank support to Karnataka.

Since 1993, two Bank-supported projects have already
helped people in 4,166 villages in 23 districts in various
states, the Bank said.

PTI

From Zee News

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